the suspension continues ! @ ? % !, page-18

Hasnt Watpac installed a new crusher and other infrastructure- $20m of the pre sales profit has been pre committed to the bond - The $93m to Watpac over 2 years will largely come from cash flow next year but maybe they need the $24m to pay Watpac for infrastructure spending now ?

The big question is $24m required for 100% of Cockatoo or is the $24m for only 50% of a J/V ?




"Watpac Limited Chief Executive Officer, Martin Monro, said Watpac will deliver all operational mining and civil
infrastructure services to the iron ore project, including drill and blast, loading, haulage and processing of ore for
direct shipping."

"In addition, Pluton has reached agreement with a large Hong Kong resources group, principally engaged in resources development and production, logistics and trading, for a comprehensive USD24m funding package. This agreement is still subject to final documentation"


hOOt