games continue, page-156

"Does it say that the Bond will remain as a JV asset.?? Or does it not lol.
"""The Bond will remain as Joint Venture Asset.""" END OF QUOTE.!!!!


So Buddy are you saying that because WEG didnt meet the preconditions and the J/V venture didnt happen - that by extrapolation the 1mt off-take didnt happen and the $20m prepayment wasnt paid ?

I sincerely hope that didn't happen on 2 fronts - Firstly its material to the company and hasn't been announced to ASX and secondly that means they dont currently have the money for the bond.

Buddy your statement said that the current deal for $24m being negotiated was to go to the bond - I pointed you to the company announcement that said the bond was coming from the prepayment on the 1mt offtake,

The bond will be on the books as a PLV or J/V asset but it will be sitting in the W.A govts bank account- Its highly questionable if it really is an asset as cliffs were happy to give Cockatoo away to get their bond backs which leads me to believe the actual cost of environmental restoration is at least $20m in todays money.

As for showman still working for PLV or not I will have to wait for annual report to see the remuneration report for key employees I spose.