Just read through the presentation again in the wee hours of the...

Just read through the presentation again in the wee hours of the morning and something dawned upon me!!!

Have another read through the presentation......

It's like the reference to the debt facility is a taunt to someone out there - ie a JV partner perhaps... "Come to the party, or we will go it alone! " ... How many times do you repeat the same thing !!! Senior debt, binding commitment!!! Or perhaps Fozzy bear put the presentation together. Or perhaps I should be sleeping!!

Work out the interest bill on the debt facility by assuming interest payable on drawdown to repayments from cash flow- fricken huge..... Add to that the warrants and dilution... Something just doesn't add up!!! There are a number of co's with less of an asset than cpl getting funding on better terms... Either the muppets are really in control of the company or something is up...

Also, interestingly they have left off average after tax free cash flows which were stated in the previous presentation... Op cash and sustaining cap is the same. Therefore have they left the line of aft tax free cash intentionally. years 1 to 5 in the december 12 presentation shows aft tax cflow of 1M per annum. the interest cost will make this negative.... Is this why it has been left off? If there is a significant change in the aft tax c/f then surely shareholders should be informed. There is a statement on the slide that
"Vista expected to generate significant free cash flow to fund development and further growth opportunities"

So Does this mean that the interest cost of the eig debt facility hasn't been factored in because they assume it will not be drawn down?

There are quite a few differences between the dec presentation and this one released today.. EG. The phase 1 has improved by 1mtpa....

No NPV included in this presentation?

Check out the differences in the development schedule, in just over 4 weeks reg approval has been pushed out another qtr. no mention as to why- I thought they were going well????

Board approval to commence construction has slipped a qtr int q2.... The whole bloody thing has moved a quarter!!! No explanation as to why!!!

The words in the dec presentation say targeting reg approvals in the fist half, yet planning chart shows eq1, words the same in the new pres, but now reg approval mid q2...

December pres:
Work is underway to ensure Coalspur can commence construction in mid-2013. Key initiatives include

January pres
Construction to commence in Q2 2013
- more definitive!!!!

Also, in December they said forest clearing would start q1- now it's h2.... What has happens since 4 weeks ago that the have changed their tune!!!

It isn't a wonder that the shorts are punishing the stock.... I can see delays here- big ones!!!! What happened to under promis over deliver...

Perhaps we are lacking operationally at the top. Since gill has taken over the development milestones have changed on every presentation!! Bring back Gene on the operations side, and beef up corporate- seems the current team are letting us down... Yes genes strategy of backing one JV partner backfired completely and we are where we are- let operators run operations and let the corporates run corporate - don't mix the two.... I have to say investor relations are lacking!!!

Brokers are contacing me for updates- wrong way around!!!!

Perhaps some sleep now, am I really awake? Am I sleep typing.....

This could go either way people.....