I think debt for equidty is pretty much a certainty now (my...

I think debt for equidty is pretty much a certainty now (my opinion) in the terms of the december 30 lenders there was a small clause their about then meeting apprioate asset sales by september 30. So its more then just the loans due lenders they need to satisfy its also those due on dec 30. With no asset sales in the pipeline and nothing sold im pretty sure GR won't be able to spin another extention out of them. CAF was the nail on the coffin (my opinion). Think is the futher extentions they get the more they have due and there is ALOT more debit coming due next year this isn't only just the current problem but also new ones ready to spring up. I can tell you I sold out of my CNP at 0.074c pretty spewing i didn't wait a day later as you can imagine.

After looking though the details Ive put my money into CER as there is only a few cents different and the immediate upside is the same. CER has a better gearing ratio. It also has alot less debt and alot less assets. However having lots of assets won't help CNP having lots of debt will hinder it thou. My belive is the banks will screw CNP holders with the debit to equidty swap lots of people have said shareholder will get nothing centro will continue trading everyone will be happy with that solution except shareholders and no one will give a rats about them.

Where as CER I believe won't fall to the same fate lower lVR and less debt might just get it over the line. Plus Orbis has been buying CER like crazy has 10% of it atm remeber CNP has 51% so thats a big percentage. Possible take over bid ? who knows.

anyways thats my 2c