major milestone coming, page-209

"The cost of debt is lower than the cost of equity. This is hardly mind blowing stuff."

JT - WM himself said as much when he said they would debt fund $100m in preference to dilution - particularity at fire sale prices which he said was not in shareholders best interests- I would suggest $2.50 with a free $2.50 - 2 year option would be classed as close to fire sale by most on these threads.

Unfortunately the sweet 7% debt funding deal has quite a few conditions attached to it including conditions with 3rd parties according to the CDU - ASX release on this matter. To any thinking person the loan must be extremely unpalatable to have warranted a second back-flip !!! the first was the 10m shares at $2 given to M & G post JORC release - The company also stated emphatically at that time that debt funding was not on their radar at time when the S/P was on its knees.