market update, page-59

Hi Westcott - yes, back in March this year there was the MOU, re the potential for Core to access the Mbalam infrastructure by way of direct investment or alternatively by a haulage services agreement. This was about advancing discussions from memory - that was the last I heard about it.

You make the point that we should accept both this MOU on equal footing with the TO offer.

That is where I differ. The TO is "on the table" as a specific offer of 45 cents from Hanlong. The Core MOU was a general agreement to discuss a "range" of possibilities - none of which are on the table at this point in time. There isn't a hint of anything coming from this MOU. Since March it is dead quiet.

Again, while the Core MOU is a possibility, the Hanlong Offer, despite its obvious issues, is "real" and will be likely voted upon.
So there is a difference IMO.