Hi BalmersdogYes...I called Peter again this morning ... he must...

Hi Balmersdog

Yes...I called Peter again this morning ... he must be sick of me....and asked him to clarify the financial situation regarding net assets and debt...

Well...after the sale goes through all debt bar about 4 million dollars will be cleared.....they will have about 25 million in cash by March with the remaining 15 million or so to be paid off over 5 years.

The euro interests are still around 30 to 35 million....and they have some interests still in Aus.

Main risk according to Peter is whether the buyers will get the capital together...but he reckons some of the individuals involved are exceedingly wealthy lol and is hopeful on this score...will know in a couple of weeks if you read ann carefully.

The plan would be to develop a crusher in europe...he says they would not be at the mercy of us soybean prices over there....

So if assets are around 70 million or so including assets, cash and money owing then 5c is quite cheap I would think.

I bought some back at 5c on opening and am hoping for the best lol...