All great in hindsight. I have also looked at hedging currency...

All great in hindsight. I have also looked at hedging currency etc., history shows the people who make money on this typically are the banks - otherwise why do it. However, during high risk periods it of course makes sense to do so I.e. First 6 month ramp up... Many companies do a short term hedge rolling out a few month, this could of helped also as it is cheaper. But again all great in hindsight.

Re cash flow, they need to refinance as per earlier posts and reduce expenditure. Would be amazed if they did a cap raising at current sp.

I don't think northern would get tap at 50, but it wouldn't be much higher. But again, oil price slides who knows it could be cheaper.

Anyone know who the seller was? Perhaps they approached northern to sell / buy up to there limit and there is no TO plan at all...