Ann: Amended Investor Presentation, page-18

Spinks was appeasing the loyalists here who think KNL will still be getting finance. German banks are not stupid like Australian banks. Prices for the low quality junk KNL have, has dropped since the German Banks got involved. That is what Spinks is stating. You need to read between the lines. Commonwealth has taken a massive hit with their poor decision to get involved with KNL. All imo which has been quite accurate.

Let's not forget the banks have lent you nothing yet. Boast when the actual finance is signed off. I believe it will never happen for KNL because SYR has plenty of the same junk. Any minor punching out at similar purity levels of SYR are finished.