June Quarterly, page-50

Dr B,

I presume that the reference to certain posters including one who said that they were well versed in litigation is a reference to yours truly. If so I note that my earlier comments were caveated and I expressed a hope that I would be wrong. The current FAR comments are very encouraging. However, I note the uncertainty created by the use of the word "expected" twice - in relation to time and cost.

If FAR have completed arbitration of this matter on 1 August 2018 for "about" $1m and there is no appeal (although the purpose of arbitration is to create final [non-appealable] decisions) either on foot or proposed then I will be a very happy BSP.

As I said before: "If I am wrong about timing and complexity then I will be very happy - especially if an arbitrator finds in favour of FAR. And even if the arbitrator finds against FAR at least we then have certainty and the JV can hopefully move to commercialisation quickly with presumably WPL as operator."


If FAR wins the arbitration to paraphrase the MD "it will be the best USD1m they have spent...."

Go FAR

Cheers,

BSP