Josef  Schachter  last report April10/12 Niko resources no bank debt, target 75.00 share. What would you call 310 million in convertible debentures due Dec31/12. I would call this debt.

250 million funding shortfall in 4 years due to the underperformance of india D6 gas block.

I suggest a law suit against this fund manager by investors who bought above todays price would be in order.