"How can your man sage not know what is owed to ILP. "He only...

"How can your man sage not know what is owed to ILP. "

He only had to ask his mate and fellow Perth Glory board member, Elias. Regardless, the state of CHM's finances would have become fairly clear when CFE did the due diligence. Sage might not be able to give an exact amount to the cent. However, the credit facility and placement was obviously put together for exactly this situation. Subsequently, Sage would have had a very good ballpark figure and arranged the funds to cover it. Further evidence is that he and Bontempo stumped up with 400k and 100k of their own money respectively. They wouldn't be walking in blindly.

I wasn't too keen on this one at first but are very much warming to it. The prospect of half of MMX's Jack Hill project or alternatively, a significant settlement, could be huge. Worst case scenario would be to develop CHM's other assets which Sage feels have some legs. He hasn't previously been in the habit of buying duds, so given that it's really only a small punt, I think it's definitely worth it. It also provides a bit of entertainment while we wait on some news from the main game: Marampa going to tender at the end of September (600m?), the proposed float of Pinnacle later in the year (big but who knows how big), progress on DMM...

Peter