Is this the beginning of the end ?

Oh how the mighty have fallen. From a market cap of 1.2billion to a paltry 41 million
Capital raisings & placements trying to shore up the balance sheet in vain.
IMO the emergency funding from RCF was the final straw - 10% interest or conversion to shares...please !

I don't think the banks will give them another cent. The banks have agreed to overlook any breaches of covenants until June 30 in the hope that RCF will take over all the debt. I'm sure the terms of any deal struck will be highly favourable to RCF at the expense of shareholders, but they'll put a positive spin on it no doubt...shoring up the balance sheet...unlocking shareholder value etc.

Anyway, report is due out this week so there may be some update.
I'm still holding as I'm deep in the red with this one...the 75cent cap raising sucked me in big time.
(I actually hope I'm seriously wrong with my comments above)

Any opposing views ?