7.5c is the bottom!, page-34

so how do they refinance delibasic? THey owe $100 million at 30 June. they are not producing positive casflow. at the quarterly production costs were higher than sales revenue. Even if htey refiinance the $100 million with KEB can they meet the interest bill on teh $100 million at current coal prices? if they cant refinance with KEB or get project finance with a bnk they will need to raise equity (in my opinion). Or they can sell down yet another portion of Baralaba. That would likely take their ownership of Baralaba to below 50%. so then you become a minority shareholder in a company thati is a minority shareholder in Baralaba. hardly a good outcome considering the oal price over the past 7 years.