JPV,The capital raising announced 28/05/09 and which was finally...

JPV,

The capital raising announced 28/05/09 and which was finally completed last month was to retire PLAs debt and crystallize the Smokey Hills Hedge book.

After all the trouble that they went to getting rid of their hedge book and with no bank looking over their shoulder calling the shots anymore I don't think that you need to worry about them being too "clever" again soon.

Everything that they have done this year seems designed to give them control and flexibility of their own finances and be out of the clutches of the banks.