Hi Moosey,Thanks too for all your informative posts over a long...

Hi Moosey,
Thanks too for all your informative posts over a long period. I hope you are wrong about conspiracies. I find it hard to believe directors of a public company would behave like that because there are criminal sanctions that might be applied if there have been conspiracies to defraud shareholders. As far as Harmony goes, if MST goes into administration, the order of payback is secured noteholders first, then unsecured debtors including unsecured notes, then shareholders. If you look at the list of top 20 secured notes holders, Nat. Bank has the majority ie someone using the Nat Bank to hold the notes for them, possibly from overseas?. Harmony is no longer, on the face of it, the primary secured creditor unless for some reason they have just signed over the notes for some financial purpose but still own them. This might be a crucial factor in what happens if things don't work out with the money. The administrators would need to get around $20mil or so before anything would come to shareholders.

At the moment I am keeping my hopes alive because of the announcement that a loan agreement has been signed and also because the lender and purchaser of the new shares is getting such a good deal one would think they'd be making every possible effort to fulfill it. They'll double their money in no time at all from day 1 at the price they are paying (see previous theoretical scenario I made up). If this is in good faith (and why should it not be, the company has announced it to the world?), we might still have to wait a while, but the company should be able to continue OK. If not, I am going to a be a lot poorer, but hey, the sun still shines sometimes and we are still better off than 98% of the worlds population.

We'll see what announcement is made in the morning! Let's all hope your misgivings are not well founded Moosey.