WTH is KBC up to, page-7

The article does a great job of promoting KBC. It mentions their recent success with Magellan, their investment in VEN and badmouths MEL who they are currently in dispute with. Almost as if the article was scripted?

For all the muck raking of MEL however it does not mention that KBC has issued a termination notice in November last year, that MEL is disputing the basis of termination and is planning to re-finance the KBC facility. That is all public knowledge and is covered in various ASX announcements. IMO the fact that none of the REAL story has been published means that KBC may not have confidence in its Termination Notice being valid.

KBC have telegraphed what they think of the project. Having just spent $1.2m buying 5% of VEN they believe the project is a worthwhile investment. Given that I wonder if they are using this dispute with MEL as a negotiating tactic set up for a lowball takeover offer on MEL?

Regardless of what KBC want the best response from MEL is to re-finance and get KBC off our back. Now it just needs to happen sooner than later.