They have a further 13mil of loan to right off for NFAL. NFAL is...

They have a further 13mil of loan to right off for NFAL. NFAL is in the hands of the Administrators and it is up to them to work out what to do with NFAL.

From NFL prelim report:
As announced in February, the directors undertook an assessment of the recoverability of the loan to NFAL. Due to continued high feedstock prices negatively impacting the economics of biodiesel production and ongoing commissioning problems at the Darwin
plant, NFL raised a provision for impairment of $30.3 million.

Darwin
The Darwin biodiesel facility is owned and operated by Natural Fuels Australia Ltd (NFAL), a 50/50 joint venture between Natural Fuel Limited and Babcock & Brown environmental Investments (BEI).

Having reached an amicable settlement with Lurgi (NFAL’s technology provider), significant rectification work has recently been completed to address defects in the Darwin plant design. Commissioning trials are now underway. Once commissioning is complete a decision on the timing of re-commencement of biodiesel production will be made assuming
current market conditions continue to improve.
****

Rectification is finished. They are comissioning that work. Assuming the comissioning is OK, the Administrator will be looking at selling the NFAL assets or the JV as a (possible) going concern.

I believe NFL need to raise some more money to move to biodiesel operations. Perhaps they can raise additional capital to buy the other half of NFAL from the Administrator at a good discount. Alternatively, the Administrator gets a better deal for the asset and returns some cash to NFL.

Palm Oil is now down to around RM2200 (approx US$650)

http://palmoilprices.net/news/