Some reflections on recent announcements and discussions, page-57

Hi pabs

I suspect you are correct. I do know that you and (western) Europe care deeply about the Environment .. much more so than we (general we) do and I think we all would be surprised at exactly how deep that caring runs. I cannot disagree with you on that or reflect negatively on the passion.

I might come across as "anti chinese" and for that I am not apologetic (yes I know that buy loads of ores from us). I am always happy to pay more, especially for made in USA (not that they are a beacon for climate change) or Europe, than buy the cheaper made in China goods.

IMO the statement re MT and arse kicking might be misinterpreted by many. He would deserve that IF he diluted us (and himself) UNNECESSARILY. That said I fully believe and support the (IMO) equity capital raising that will likely accompany the entire funding package. We are going to have to differ on "free money". There is always plenty of capital available - its just at what cost and what you have to give up. I'll post thoughts on how I would like to see the future capital structure enfold. Keep in mind it will be exactly wrong (numbers wise) but perhaps anatomically reasonable.

I'm just glad your postings have returned to a more genteel manner ... don't mind a sharp edge as it keeps everyone awake and on the ball.