Ann: Agreement of Commercial Terms with Financing Syndicate-RES.AX, page-4

Not quite. Will be interesting to see what "realistic tenor and market-related margins" means. Hopefully not that equity gets totally legged over while Noble and the bandits make out like - well - bandits. That's what they are, after all....

But each of the participants won't be putting it up to credit if it's not likely to get approved. So I would be expecting the green light in Oct when the share price should finally move a bit.

So it looks like a good-sized step in the right direction.

P.S Am pretty sure the interest rates will be very much on the high side. But given the absolute pasting I've taken on this stock (my worst ever investment decision - although at one stage of course I was up 6 figures and didn't sell - IDIOT) I would prefer part of something than all of nothing. Will coal out of the cellar and some common sense returning to pricing the future is more positive. Now if only the ANC would go and drown themselves.....

P.P.S There was a Melb-based HNW guy very keen on this a few months back (heard about that from our former board). I wonder if it's him that's doing all the buying. Someone has been creeping up the register.