trading halt in regards financial arrangements, page-13

Petlas,

Probably should be a lesson that just because a bank is "mandated" by a company, doesn't mean that they will go through with a deal.

Nedbank.
Interesting bank to behind Keysbrook. They are a specialist resources bank out of South Africa and are one of the heavy hitters behind Base Resources mineral sands project in Kenya. They have backed other good projects in Africa as well, so that's a real positive. If they were the one to pull out, then that would have been a different story. I remember them backing Exxaro Resources sand project in South Africa a few years ago.

The bank that pulled the plug.
We will probably never know through an ASX announcement, but the question is why did they? Here's two guesses (and I stress they are only guesses).

1. It' happened post-RCF announcement, so they may not happy about that funding arrangement. I don't think many small holders were wrapped by it either, but what were management going to do in this climate?

2. Maybe the price of the commodity hasn't come around to an acceptable level and the lack of an offtake agreement for the Zircon and L88.

I think what annoys me the most about these sorts of stocks is that lack of help provided by the big boys on the register - Stirling and Tricoastal. The latter has board representation and does what for it? Stirling, well, they've been a right royal pain in the clacker and would know anything even without a board rep. It's like these guys want a free ride on the back of other holders.

As for RCF, get on the phone you fools and get a bank organised, or is this how you want it to play out?

Pep