Ann: ********* Interview - Paul Burton and Herbert Weissenbaeck, page-72

Lollot in my mind it has to be finance. SMS have said Tivan is bulletproof so that’s not it, there is only the plant EIS to be submitted and then approved (along with the MMP) as far as permitting goes so that can’t be it either. The elephant in the room is the FEED. If SMS come back to us with a figure that isn’t a significant increase on what we have been led to believe for a lot of years now that will be a huge step in the right direction. If on the other hand it is a big blow out then it will be back to 5c for the SP. Confidence from the retail side will be shot, potential dilution will be huge and we will end up like that stock that PB plugged a while back spending the next couple of years scrambling just to get mezz finance sorted.