annual report – highlights! , page-25

Rhstone,

That's why they should have gone to the Americans they have a much bigger risk appetite that won't change in fact investing in Australian resources, buying up agriculture (graincorp) makes more sense as a country trying to turn their massive debt problems around buy up our assets for predicted growth and sell the spoils to the Chinese pretty easy to predict the Chinese need resources and food. they also provide 80% of Oz's project finance or thereabouts.
They went old world money from Europe and Nero fiddled whilst Rome burnt. Unfortunately all the Europeans see at the moment is risk from their blurry eyes caused by the smoke billowing around their cities from the wreckage of their banks and they will decline because of it. Time and tide waits for no man to adapt to change.

I'm hearing Pezza and now Remirez (it's okay everyone changes sides...eventually) and co state the numbers and use that to sum up the situation as impossible. It's hardly worse than last year and they are still here minus the GWR shares a big blow for some for me GWR has even less chance of getting up and running so no great loss except the price they got for them was appalling hence the swing to -$7.5m. I wouldn't put it past them to last another year if they had too but there will be an answer on Esperance before this year is out.

$7m in debt is peanuts for an exploration company near the end of it's exploration stage trying to become a producer (granted interest rates are ridiculous) at the end of the day no project will get up without finance it doesn't matter whether they had a pile of money like GWR or not. If they don't attract other people's money all the wannabe iron ore miners will fail all the cash does is buy time. The fact they have let the interest rates continue tells me they still view it as short term they aren't trying to secure a longer timespan to get this over the line. Failure in their mind is not an option. Unfortunately that is not something you can look at quantitatively, it's a qualitative assessment
;) Also there is more to the story for the off take partner to sign Wayne Wan can't be that good with his connections.

For me I'm going to wait patiently for the quarterly.
I'm going to go unwind and watch some comedy but this thread has been some good entertainment for the last few days. Yes it's the ninth innings and all the bases are loaded that excites me obviously it excites everyone else too lol let's see how it all pans out. Before we point to the I told you so's...

Anyone that didn't see this as a risky company my condolences but as winning10bagger states this is at least a 10 bagger if it comes off maybe even a Sirius 10 x 10 bagger lol. I welcome the perceived risk for the reward which you won't get on the asx 300. To be fair those that rode the day trader drive would have done a 10 bagger already from .7 - .8 c a share to over 7 cents for a day.

It's about time the company came out with some truths to lay it all to rest. Before the AGM would be nice.

There are plenty of facts implied or otherwise that also point to why they will successfully obtain finance. It also finished strongly today.

JTH