countdown is on to finance conclusion, page-10

Management have no idea because it's not up to them. The banks will take as long as they want and they're probably waiting for either one (or both) of two things to happen .. 1) coal prices to improve and 2) lack of infrastructure in the Waterberg to change (namely rail capacity) . Point 2 has always been RES's achillies. It's been the same story with every major achievement made to date. Mining Rights, Transnet, IWULA, NEMA, etc... and now Project Finance & Mining equipment. All we keep hearing is that negotiations are at an 'advanced stage'. Whatever happened to our advanced discussions with Eskimo? These RES announcements with expected ETA's are just fluff in the wind really. Written to jeep the crowd at bay and maintain a glimmer of hope. Still, credit where it's due, RES have done well to get this far all things considered!