what news , page-6

Nickyj will do.

Like many who have been caught holding View Resources shares I have not an insignificant interest in the outcome - so trying to keep abreast of whats happening behind the scenes. Most of which is strictly "comercial in confidence" so hard get any straight answers to be honest! We will only be informed further when there is a Deed of Company Arrangement (DOCA) put forward to be agreed to and implimented.

To understand what a DOCA is go to the following link -

http://www.worrells.net.au/FAQ/faq_DCA.htm#whatisadca

The DOCA is the first step in preventing Liquidation to settle debts. From there I guess providing this all works out and there is enough working capital to meent any future debts (such as the Mincor calls) there is no reason why the "new" board of directors cannot take back over the Company from the Administrators and have the suspension on the ASX lifted.

Critical to shareholders is how the Company is to be restructured. Someone who has been through this type of event before may wish to discuss the various scenarios for shareholders.

I still believe that View has enough assets and potential for cash flow from Carnilya Hill plus IMCs $19m Loan to meet all debts (by arrangement) and still have some significant equity left for existing share holders. Needless to say IMC will want a slab of security which will dilute existing holdings. Your guess is as good as mine what might be left. If Creditors are prepared to accept a discount on what is owed to keep the Company solvent shareholders must cary some burden.


I think in the end if Carnilya Hill is retained, Views Capitalisation will be representitive of the true value of this assets earnings and further potential.

The one thing that is critical over the next month or so is for Gold to stay up over A$1000 per oz and Nickel to stay around A$32,000 per tonne. This keeps the "raison d'etre" for View's continued existence. i.e.

1. Improves Bronzewings chance of selling it at a reasonable price to another "sucker" err! I mean someone who can do the exploration/development job properly

2. Keeps Carnilya Hill's potentail profit margin at pretty impressive levels.