Pinky.....citi's statement on their cash backing is fine....
Cash balance was at 30 June 11 US$118m and A$127m has been drawn from the debt facility. this plus the placement brings the total cash balance to ~US$310m or 30%+ cash backing...
they are only making a statement on the cash backing.....not the debt picture
Besides...citi are pointing out that Paladin is trying to sell some of its assets or stakes in some of its assets which will further bolster cash.....
Pinky.....citi's statement on their cash backing is fine....Cash...
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