mashala finalisation...facts

For everyone still stressing over the trading halt.....don't.

From my previous correspondence with CCC:

" "Dear Paul,

As discussed, the trading halt is in in place is due to the finalisation of the financing of Mashala. The capital raising is the same one from the 4th of August announcement. It is a $25 million Convertible Note for major institutional investors. This is not a share placement to shareholders.

I hope this has cleared up some of your questions. Please do not hesitate to contact the office" ........CCC

I was trying to be diplomatic and kept stating in numerous posts to read the announcement correctly "finalisation" not NEW CAP raising but those locked into the moment just wouldn't listen!"

I now have further information:

Everything being done by CCC is related to the finalisation of the agreements accepted by shareholders in the September shareholders meeting!

Finalisation of the c/n and Mashala purchase is occuring
as per the AUG SPP accepted by shareholder 12/9/10.

25 million in c/n per SPP:

20 million comfortably being finalised with UK and Hong Kong institutional investors

5 million under negotiation

Should 5-10 million in equity be required to guarantee the finalisation then an institutional funding would be sought and a shadow book outlining the possibility was only being considered as back up.

During discussion the mid 6's in allocation were discussed.......Highly unlikely but a SENSIBLE back up to guarantee the Mashala finalisation.

DIRECT FROM CCC

By the way expect a speeding fine from ASX IMO.

ONCE AGAIN 100% IN ACCORDANCE WITH the FINALISATION OF THE LAST SPP.

Hope this helps and by the way MIHAL thanks so much for your comments.

Cheers all

Forro

IMHO DYOR