Is it your opinion that Fung is not prepared to file for arbitration and doesn't have the funds to follow through with it?

He's definately prepared to file. That's a no-brainer. The problem is financing arbitration. I'm sure he has something worked out with Macquarie and\or the bondholders as his fall back position to finance arbitration. Who knows....maybe Goldcorp or CRRC is waiting in the wings to finance arbitration. That would be the best possible scenario....much preferred to dilution to hell or worse.

In my opinion...

Fung will do OK

MacQuarie will do OK

The Bondholders will do OK

Shareholders will get diluted to hell (if we're lucky) unless we are saved by a "white knight"