re: Ann: NMG: Noble Accepts Revised A$85m Fin... good link - and indeed, it answered one or two questions that watso had in his mind.
the convertible notes, will have precedence over ordinary shares, if things go belly up - so rsg are underwriting a convertible note issue - where they may get a reasonable return, in case the operation fails.
as it was, nmg shareholders were stuffed without the injection of extra funds - and in reality, it probably did not make much difference, where the funds came from (ie from Z, or rsg).
with a bit of luck, rsg end up with 60% of nmg - and the bibiani mine is a cash cow - and on an equity accounting basis, then rsg will recoup their investment, within a year or two - and indirectly add 100,000 oz to the balance sheet
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