P87,It seems that you don't really understand the situation...

P87,

It seems that you don't really understand the situation here.

It was an asset sale but the asset in question is encumbered with project finance. So how was that project finance affected by the sale?

To give you a simple example that you might be able to get your head around:

Say that I sold one apartment in a building that I own which has four apartments. I also have a mortgage on the whole building. Now did the buyer buy the building with part of the mortgage attached to it? If so then that's a great deal. If I had to use those funds to pay off part of that mortgage then it's not as good a deal for me.

The announcement says they bought 25% equity in LH mine. That implies that they take on 25% of the debt encumbered on that asset too. But I would like to confirm that this was the case.

I've taken the initiative to call PDN and ask them to clarify this but they haven't got back to me yet. In the meantime it seems that, despite all of the activity in the forum, nobody here knows the answer to this fundamentally important question either. The fact that nobody else is asking this is puzzling to me.

I wouldn't go shorting anything until you can get your head around these issues P87.