update, page-15

Phillip

Not a hater. Just a realist that posted previously that the financing timetable was pipe dreams and that any financing would come with conditions. This was after all the back slapping on getting indicative terms sheets from banks.

Oh and funny enough those conditions that have come back are unacceptable to RES. Why because all of a sudden, it's not all rosey and RES has to likely commit to doing what ever other company has to do that has bank finance.

The underlying resource is a low quality thermal coal, let's not try and beat around the bush. It's also in a region that lacks key infrastructure. Yes it has great potential and tabs why I follow it. But I follow it with 20/20 vision and recognize the challenges that RES face.

Of course they have to explore altnatives because if they don't they they have hit a brick wall. The Noble funding saved them. Simple as that. Bank funding was not coming in the timeframe PJ thought or on the conditions wanted. In order to keep going he had to secure interim funding. Without that it would have ground to a halt. And let's be honest the Noble funding was only a drop in the ocean of what is actually needed.

PJ is trying to line up all the ducks. Of course he is Get the debt funding in place and then raise the equity. Makes complete sense as the banks have given their vote of confidence and the share price gets a kick before massive, and let's not beat around the bush, massive, massive dilution would occur if he raised equity in the current market.

Again not a hater, a troll or whatever you want to call me. Just trying to add some realism to the discussion before we have another "countdown to millions"

Still lots for RES to do and the markets are not gong to helping them in the short term.

Good luck to all. But please be brave enough to recognize the issues in front for RES. Plenty of time to buy this up in the future when further key points are satisfied.