the australian - andrew's current position, page-15

Just looking at the cash position from the results:

June 2011: $125m
Dec 2011: $116m
June 2012: $80m

That's not looking at debt. Do they have enough to go on with, do you folks reckon? Any raising required?

The link below, from 27/8, has two different approaches to the capital structure:

http://tools.afr.com/viewer.aspx?ATL://9bf1e7cc-ef18-11e1-a4a3-8f03bb1a3839§ion=tools

Brad Newcombe, of PIGS, says a freeze on capital spending and a break up of the company, whereas Mawhinney of Orbis says a buy back of PXUPA in exchange for equity- not cash. Mawhinney/Allan Gray want something done before the AGM on October 31.
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There are now only two Directors on the Board, with one of them being the recalcitrant Mike McConnell, who just couldn't seem to force himself to buy shares. These two, the newby and the ditherer, have 5 weeks to the AGM, and one week left with the old Directors. The old Directors resign on 28 September, and have said there will be an announcement about new Directors before then. To my knowledge, PPX will not be allowed to operate with only two Directors. Is there any kind of succession plan, or will they just chuck in anyone next week?