If partial finance comes through it wont save the USD100m.Its a...

If partial finance comes through it wont save the USD100m.

Its a decision that needs to be made if the finance is "severely compromised"

They will have to realize at some point soon that the conversation needs to be had....'do we go all in, based on the "belief" that finance could arrive later down the track to save us'

The shareholders have been told its binding (according to the ASX) with an escape clause for soundings......and yet they have updated us (according to the ASX) that the finance for both senior and junior debt is now severely compromised.....

Woodside have made their position clear....and according to FARs last ASX announcement it was waiting on the operator (JV) to advise on the degree to which Sangomar would be shelved.....well according to this announcement from WPL....its not going to be shelved much at all.

A joke this is not.

Now I have to make a decision....

Out at 10c on the dollar.

or

Hold on the belief that they can come clean with us and also that they can make a rational (company saving) decision in these VERY trying times.

Its now up to Meridian, Farjoy or AG to decide the future of this company because they cannot sell out with a no-bid market....in reality the only bidders would come from someone with an existing stake to build on. (A corporate raider who thinks they could accumulate the shares and sack the management and strip the cash).....so if our cornerstones have lost confidence they can cumulatively sack management and strip the cash.

I can only hope they are better informed than we are at this juncture....