Ann: Senior debt process update, page-54

Accumulated losses are fine, provided the company has used the money productively and built productive assets, while you make the assumption "profitable years going forward" that is pure fantasy ATM.

Lol, the "Govt" haven't got it wrong, they haven't done anything, but written a nice letter, frankly I'd suspect at Gavin's begging given his continual refrain of customers/finance "in a few months" has proven such a charade.

Try and read it slowly perhaps it will sink in:

"no commitment to provide finance has been provided to date, and final credit approval and commitment from the proposed lenders has not yet been achieved and therefore it is not certain that a financing will proceed as outlined"

Just how long is the Board going to persevere with this charade before Gavin & his team go under a bus, yet another restructure for ARU MkIII, or would it be MkIV, lost count over the decades.