pro's con's & conjecture, page-23

"Wayne McCrae always plans ahead and it is logical to think that the $100 million dollars is all that is required otherwise he would have sought more."

a) if that was true, why didn't he raise the $100m at $5 when he could have? He knew he would need it (as you say). But surely, if he really had planned ahead, he would have known 32 months ago that the project would have cost $350m - $400m rather than the $200m that he announced to the market. Therefore, roh, he did not plan ahead for the $100m debt simply because he thought it was only costing about half of what it will.

b) How do you know that he did not seek more, but the bank said "No"? If CDU is going to go ahead with the rail and port facilities they will need funding from somewhere, as the finance announcement is quite specific that the funding is for the mine development and working capital. You are, once again, speculating, that very thing that you tell people they shouldn't do.