down down prices is down, page-24

Hmmm...if DML breached their debt covenants on 31 dec and advised the banking syndicate they would breach prior to that date, then why at 19/2/13 are they still only in 'final stages of approval' for modification of the banking covenants? if it had happened by now it would have been included in the subsequent events section.

'Confident that progress...will be successful' and 'final stages of approval' sounds good but DML are in a very shaky position at the moment. Why would the banking syndicate go easy on DML when they can bend them over the barrel for more fees/higher rates or call in the debts on DML and easily recover their money buy selling the project to CFC.

As dilutive as it would be i would love an announcement of a cap raising tomorrow. Better that than risking default from the syndicate lenders.

Considering this 'Revolver' credit was only $25m it seems to have caused a lot of trouble.