must announce something in next 3 days, page-20

Guys, I think a bit of common sense is needed here.

We know the Fortis debt is due on the 8th, probably US time or possibly European. In any case early next week.

Most people are also aware that Karel Louman, our CFO was also CEO of Fortis Capital - our financier.

Fortis were also issued 7m 30c options, and so have a financial interest in Marion.

When the last US10.5m was negotiated, Fortis knew Marion had no production, knew that winter would prevent anything from happening till around April/May, yet they did not extend the due date. They obviously expected this to be renegotiated (probably at more cost) once they knew which way GS would recommend the company go. (16 days later GS recommended selling)

Now considering the connection Fortis have with Marion, what do you think they would do in a worst case scenario where Marion failed to renegotiate etc.
Get someone like GS to sell the assets? In a worst case scenario - possibly, but hello - they are already doing that! Fortis would have nothing to gain by forcing administration or whatever else the doomsdayers are suggesting.

I can remember about a year ago people posting that the sky was going to fall in because we were in breach of some of the loan conditions - which we were (minimum production). But life went on.

No doubt we'll also need some more money, they had no trouble getting the US10.5m last January when credit markets were extremely tight, so they should have no problems now the markets have considerably thawed. The last Quarterly said they were also in negotiations with a 3rd financier, probably trying to get the best deal. Would certainly make GS's job easier if we're not short of cash.

Finally I have no idea why Marion always leave it to the last minute to announce these things - wish I did. If I was a cynic, I might suggest to allow their mates to pick up cheap stock.