Infrastructure BOOT contract, page-4

BOOT = build-own-operate-transfer.

It a way to shift the debt facility burden from SDL, to someone else - it is an option being contemplated (for way too long now) by SDL management. They came with the BOOT option late last year and GC said they will weigh up option - and they're still busy weighing up.

Personally, not too opposed to BOOT - removes huge amount of risk and will see more medium term ivestors getting in.
It means, and as GC stated, removes 3.5Bil from the books. The whole operation being funded and built by the touted Mota-Engil Consortium. They take ownership transfer and runs the infrast as one of their businesses. SDL will then pay a tariff for haulage. (Am just thinking whether the recently $55p/t landing cost in the recent slide show is an early indication that they may have made up their minds to go for BOOT)

On the other end of scale, if SDL arrange debt finance for entire infrast, retains ownership (for first 25 years in any event), operates it and run the port and rail as a separate (ADDITIONAL), business. enterprize - Saving on their own haulage costs while charging every other mine in vicinity that wishes to take up useage.

Ultimately, for LT holders the debt funding option is a much more lucrative option.

Hope this helps.

Regards