Cait, My point was that those weren't really debt, in the sense...

Cait,

My point was that those weren't really debt, in the sense that they would be wound up if they couldn't pay it.

The point about the ablation units is somewhat mute, as I don't think it matters. The company has said that the 5 tph uni works, obviously it's not commercial, neither is the 0.5 tph unit. My understanding of the rationale for not using the 5 tph unit on the October stockpile was permitting related although the company never fully acknowledged this.

I may have had my numbers slightly muddled with the takeover price and the JV debt etc, there's been a few too many numbers flying through my head at the moment! But the below is from the annual report:
  

	Column 1	Column 2	Column 3	Column 4	Column 5
0		2014	2013
1	Equity accounted investment	-	975,723
2	Loan receivable – Ablation JV	6,589,971	4,580,604
3	Provision for loan receivable	(2,306,174)	-
4	Exchange differences	13,711	-
5	Total	4,297,508	5,556,327

Not a small amount of money.

Back to the T/O... I can't see Glasnier wanting to takeover all of BLR to then watch the J/V partner leave. Otherwise what is the point of sending the 0.5 tph pilot plant? The reason for not sending the 5 tph unit? I honestly can't tell you, but unless the company has been blatantly lying, it works. Perhaps there is a permitting reason for why it can't be sent but it was always suppose to be deployable via flat bed truck for field trials.

And to be clear, i'm not arguing against your point of view necessarily, simply trying to share my opinions in the view of improving what I know about the situation.

Robot.