having a look at this now as it does seem cheap, other than the...

having a look at this now as it does seem cheap, other than the $10m loan they are in default on

what are peoples thoughts on the Northrock loan on which they are in default of. This was due 6 August 2015. Says they haven't demanded payment yet, but why would they be waiting? any history here?

Northrock have security over the holding company, they could call the loans and have control of the tenement, shareholders would be left with zilch potentially. I can't believe the Indonesian wouldn't be trying to do a deal with Northrock, put the company in receivership and buy the project cheap from them

???

This is the big risk IMHO and why the share price doesn't reflect anywhere near the bid price

Blackrock bailed in May, that doesn't look good either imho