re: Ann: Expansion Program and Revenue Projec...
Re the CBA loan default I consider the following significant:
* They had receive no notice from CBA as to action ... * They were not inhibited from making the acquisition of new pearl farms announced 01/04/10 * They stated even if called in their believed they had the financial resources / cash / cash flow to repay the loan in full * No further update has been provided (ie. nothing negative to report) * The default was a technical one due to asset writedowns - not related to inability to service the debt. Although still a default it provides strong comfort that CBA would have no interest in calling in the loan and they didn't / haven't. In fact, the current plan would suggest CBA is supportive of the company
MJS
ATP Price at posting:
11.0¢ Sentiment: LT Buy Disclosure: Held
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