Makik,
The word in Aus is that due diligence by Hawkes Point showed creditors were understated,capital required was more than $80m.
And on top of that there is a rehab liability which exceeds $40m and then we have the winding up order by Eureka Mine Constructions that resurfaces on the 18th.
The whole episode has more moving parts than anything I have ever seen in 55 years in the mining game
If the Mines Department had not handed back EGS bonds of $5m some 6 years ago this would never have got this far
Ann: Adjournment of Annual General Meeting & General Meeting, page-7
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