i'm back..permanently depending on you, page-26

Hi Chubbito,

Under our agreement with Timeone, and with the owners of Cockatoo, Timeone/SS&T will provide a bank guarantee for around %20m to replace the environment bond with the Dept of Mines and Petroleum when we complete the purchase in late June. That is effectively up to %20m cash.

In addition to this we will be cash calliung 3 months of expenditure, plus past Cockatoo costs, to move forward with Cockatoo. This will be a pretty big sum given what we need to do. Is thsi already in an Auistralian bank account? No it is not. DSo we know SS&T have the funds ready? Yes we do.

Will we do a capital raising in the next 6 months? Given we will spend most of 4C on Cockatoo it is likely we will need to do something to advance Irvine. But your interpretatiuon to a capital raising may be different to mine. Depends if you mean a new share issue or not.

Financial metrics for Cockatoo have been released to ASX already. I don't have them on me but if you do a search you will find them.

Cheers, Tony.