The announcement states:Subsequent to Tuart's announcement on...

The announcement states:

Subsequent to Tuart's announcement on the 11th July 2002, Tuart has
secured an agreement from the Commonwealth Bank of Australia (CBA) to
extend the CBA mortgage over the Preston Vale land until the
31st July 2002.

The Melbourne financier's are completing the Due Diligence and to
that end Tuart has approached a local financier in order to bridge
the CBA mortgage. The bridging financier has lodged $950,000 with the
CBA to satisfy the CBA of ability, whilst they are assessing the
application.

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The end of July isn't far away so they must be in some crisis talks at the moment. Oh dear! Still sounds like a major problem to me. Isn't it interesting to see that holders can read good things into announcements that people who don't hold think are bad. Isn't human psychology wonderful!