ann out: brace for pain - relisted, page-24

$11mil debt sounds more like what I was expecting. Damn the administrators ate into the dividend. But still looks ok long term with a posible buyer at $13mil. KGL would get the $3mil back and creditors would do well too.

I still think it might be better not sold. We cleared $11mil of debt for just $3mil. That must make the project more viable.

The creditors had no recourse against KGL, but I think the company did the right thing offering $3mil. But it wont save their reputation.

Its still a basket case. Jervois is too long term. And Andash is gone.