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Shacks
Ghanzel
Joined: Mar 03, 2003
Last Visited: Nov 23, 2008
Location: Sir Big Lens of the Distant (Signal) North.
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Posted: Wed Oct 08, 2008 7:46 pm
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Must be something soon. The FL sign and the office at the front gate in Berrimah look like they have been given a wash in the last few days.
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emdrules
Locomotive Fireman
Joined: Sep 22, 2004
Last Visited: Nov 7, 2008
Location: Port Augusta-Centre Of The Universe
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Posted: Wed Oct 08, 2008 9:51 pm
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Well you have had some rain!
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Shacks
Ghanzel
Joined: Mar 03, 2003
Last Visited: Nov 23, 2008
Location: Sir Big Lens of the Distant (Signal) North.
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Posted: Wed Oct 08, 2008 10:16 pm
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They were clean prior to last nights rain.
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nutbagg
Assistant Commissioner
Joined: Feb 11, 2007
Last Visited: Nov 18, 2008
Location: In Willy Wonka's Chocolate Lake
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Posted: Thu Oct 09, 2008 1:50 am
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Sure they didn't just repaint over the dirt! 
Given the current financial climate I think that trying to find a few hundred million would involve alot of hard work. Might be time to pass the hat around!
Mate, if that loco pulls as hard as you do, it'd move anything.
I'd still rather have an ALCo.
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Shacks
Ghanzel
Joined: Mar 03, 2003
Last Visited: Nov 23, 2008
Location: Sir Big Lens of the Distant (Signal) North.
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Posted: Thu Oct 09, 2008 8:04 pm
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It hasn't been repinted, it has been washed.
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Shacks
Ghanzel
Joined: Mar 03, 2003
Last Visited: Nov 23, 2008
Location: Sir Big Lens of the Distant (Signal) North.
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Pressman
Chief Commissioner
Joined: May 23, 2006
Last Visited: Nov 23, 2008
Location: anywhere between Glenbawn and Pemberton
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Posted: Sun Oct 26, 2008 1:28 pm
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eerrrrrrrrrrrrrrr....................
uuuuuuuuuuuuuuuummmmmmmmmmm.........
Ok
I won't ask 
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Shacks
Ghanzel
Joined: Mar 03, 2003
Last Visited: Nov 23, 2008
Location: Sir Big Lens of the Distant (Signal) North.
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Posted: Sun Oct 26, 2008 2:22 pm
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Tony, as I have hinted in my post above, it looks like the railway has to be placed into recivership first. I guess the delay would be working out all the details so services are not effected.
I know when a company is placed in the hands of recivers all owners of the cmpany at the time are ineligible to purchase it. If GWA is a front runner, there could be problems as they are current part owners.
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bingley hall
Chief Commissioner
Joined: Nov 09, 2005
Last Visited: Nov 23, 2008
Location: gone fishin
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Posted: Sun Oct 26, 2008 3:05 pm
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Not that I'm any expert or understand what I have been old, but the senior debt is not a problem, it is the holders of the mezzanine debt who are hanging out for more.
Bing
Life is just a bowl of All Bran...you wake up every morning and it's there
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kipioneer
Chief Commissioner
Joined: Oct 18, 2004
Last Visited: Nov 21, 2008
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Posted: Tue Nov 04, 2008 9:14 am
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The other option is a government bail-out - if the NT and SA governments can find the money and if this is politically attractive.
This could see the line in government hands a lot earlier than 2053 under the BOOT arrangement.
But then the cynics among us might have said this all along.
Neil - the KIPioneer
Hawthorn SA
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arctic
Junior Train Controller
Joined: Apr 26, 2006
Last Visited: Nov 23, 2008
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Posted: Tue Nov 04, 2008 11:24 am
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Article in yesterday's AFR basically confirms the comments by BH above. Its not on-line (unless you want to pay for it) but the first para is:
| Quote: | | The future of Freightlink, the owner of the $1.2 billion Adelaide to Darwin Railway, may be decided this week as the company considers putting itself into receivership if it cannot reach agreement with all its debt holders to sell the firm |
It goes on to say they have a preferred bidder but the process is held up by mezzanine noteholders holding out against the deal. FL needs the support all all debt holders for the deal to proceed, however these same "noteholders" will apparently get more money if FL is in default and goes into receivership.
Don't really know why except that mezzanine financing is more expensive and less secure than other debtholders and they might feel they can get more from FL if it is broken up and sold as above and below rail ops (my speculation)
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