From last post:"BTW, Clavis, what is your opinion on this one?"

Yesterday's news: "

Glen Eagle Resources Inc. has informed Kinbauri Gold Corp. that due to the court application commenced in connection with its proposed transaction with Kinbauri Gold Corp. announced in Stockwatch on May 13, 2009, the original financing arrangements made by Glen Eagle are no longer available but remains fully committed to closing the transaction with Kinbauri by June 19. Glen Eagle has been informed on June 3 by Paradise Peak Holdings SA, its financial adviser, that PPH is in the process of completing new financial arrangements. Glen Eagle has advised Kinbauri Gold Corp. that it will use its best efforts and expects to provide confirmation of its new financing arrangements by the close of business today.

Should there be any delay to have a fully detailed plan with regard to the new financing arrangement, a press release scheduled no later than June 10 will provide full disclosure of the situation regarding the financing of the transaction. "

We have not heard yet of the new financial arrangements BUT from the current sell off at .10 and best ask starting to be below .10, it does not look that good. Let's hope we get some update before Monday.

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