In the spirit of sharing … my conversation with SM is below...

In the spirit of sharing … my conversation with SM is below (this morning I called in)

Obviously this is all non-material so don’t whinge that there’s nothing ground-breaking in here

1 - Did RES use advisors for the project debt finance process or was it in-house – “yes” but didn’t (and wouldn’t) disclose who

2 – Did any bank lead the syndicate if so who – “no was a club with equal voice”. Meant that lowest common denominator of the 6 banks set the eventual terms

3 – How long does the window stay open for ‘ongoing negotiations’ with banks (as stated in ASX release) – "Now that RES has rejected the clubs offer RES isn’t constrained by the exclusivity agreement that prohibited RES seeking out offers from individual banks"

My read between the lines is that the club is dead but one or more banks may be keen to lend (prob smaller amount). The fat lady is yet to sing – just a bit of indigestion right now.

HAPPY EASTER RES-HEADS