outcome of nab discussions, page-2

Hi GG, what makes you think that they will keep us shareholders informed? That is the last thing that they will do if they are planning a placement to "sophisticated investors"

Often that is the case when a company needs money.. It costs them much less than if they do a public cap raising, they don't need to make a prospectus, and they get a pretty much guaranteed amount of money. If that is what is brewing, expect the placement to be at significantly less than 20c though. I'd guestimate between 15.5 and 18.5c (15.5c being a 30% discount to the 22c that has been the recent price level.

Don't worry too much, just me being cynical, and I just did a quick calculation and they would need to issue more than 15% of the issued capital at 18c to raise anywhere near enough to pay out that loan. more like 40% of the shares on issue at 18c *yikes*! but I guess time will tell.

Probably will be a cap raising to sophisticated investors for whatever amount of the 15% allowed (without shareholder approval is left for this year (max about 65,000,000 shares) which should give them enough to pay down the loan to a point where the bank is happy to re-finance at some terms rather favourable towards the bank, but not so favourable to NMS, they may even have enough left over to make some payments for a while...

Man am I getting jaded or what...

Tony.