I don't believe they will need to sell off PH if they sell MARTABE which they look as though they will be able to do.
Majority of banks want to refinance.
Simple 250 - 300 million for Martabe (perhaps more).
Use this to pay off those banks that don't wish to refinance.
Depending on how much additionsl funds are required
Options are:
1 Small rights issue? 2.Instituational Placement? 3. Sale of other assets excluding Prominant Hill. (They have already mentioned they have had expresions of interest for all their assets which includes the non profitable ones). 4. Sale of stake in PH (only at a good price).
Don't forget the instution/investor who purchased a large sum of shares prior to suspension. They (perhaps the Chinese) would be looking to be some where in the mix.
If metal prices improve. More interest will develop.
Far to negative people.
Things have improved with the extension.
OZL Price at posting:
0.0¢ Sentiment: None Disclosure: Held
