project debt finance-private equity funds

Firstly, congratulations Ian on getting the Quarterly Report out a lot earlier than normal.

Project Debt Finance. " Discussions with major banks and sovereign funds located in the Middle East and North Africa region are ongoing." We have been going down this road a long time & prior to that International Banks & Institutions. Time to think outside the square.

Going through the ASX announcements the number of European & USA Private Equity Funds investing money in Australian Mining Companies, even at the exploration level, has been quite noticeable over the last twelve months. Why ? Because interest rates & returns on projects in their own countries are not as attractive.

I have maintained for quite sometime that Directors should sell Abu Dabbab. Apparently not an option ?

Ian, why not give Noahs Rule a mandate to target European & USA Private Equity Funds ? What do we have to lose ? Make same known to the market. This can be in conjunction with the Company's own bank & institution efforts in the Middle East & North Africa