Ann: Satisfaction of Conditions Precedent, page-24

Thanks Fizzy for your advice.

My employment does limit my freedom for engaging in discussions on HC, though does not exclude it.
I will certainly circulate pertinent information to your guys once I have it.

Needless to say this time is difficult for SDL shareholders. But we all shall see encouraging sign that SDL is unlikely to die. If meant to die, it is probably already dead. Once 2/3 funds are promised, it does not make sense not to fund another 1/3 funds needed. There are lots of ordinary Han Long (Chinese) shareholders who invested in Han Long suffered "loss" due to the Chinese high level political game change. The current Chinese government is held accountable for their loss. It does not appear that the current Chinese wants to loose Han Long's investment on SDL, but use it instead to exert control for a grand plan. Noble's involvement reinforced this argument.

The question is how much will be left for SDL shareholders after the creditor (say China), the Cameroon and Congo Governments all share the profit cake. Some of you can better make quantitative estimates than I do. There are many variables coming to play nonlinearly, (though mainly the cost of using the rails and iron ore price). As an educated guess, retaining a level comparable to Han Long's initial entry point to compensate Han Long shareholders' "loss" is a reasonable economic and politic good outcome.

Jianke