There will be no refunds. This is what I was talking about last...

There will be no refunds.

This is what I was talking about last week. The CR is going ahead no matter what happens to the funding deal.

However, when the funding deal was announced, Pacific Road were going to be the underwriters for the CR. Then suddenly Barclay Wells appear out of nowhere and are now underwriting the CR with Pac Rd sub-underwriting it.

Why would that be the case if the funding was going full steam ahead with no hiccups?

The paperwork for the funding deal which was in its 'advanced stages' since 1 November is apparently still in its advanced stages. The deal was meant to be sealed in about a week and BLK was going to draw down on the funds in about a fortnight.

Yes it's possible there have been some unavoidable delays and the finance may well come through in the end...

But given BLK's track record of delivering on promises, who can say with any degree of confidence that all will be fine with the funding?