Ann: Suspension from Quotation, page-63

Surely this failed Bond issue has more to do with who wants control of Nifty, rather than is Nifty a profitable investment?

I have lost faith with the concept we are investing in an open transparent market (it is not even opaque). The big boys are running the show and ASIC is singing to their tune.



LME stocks are lower now than they were when the restart study was released

copper price higher now than when the restart study was released

10% of the worlds copper comes from Peru (2.2m tpa) and that won't be feeding the global Cu deficit any time soon

exchange rate much better now compared to when the restart study was released

NPV of NIfty is $358m with IRR of 47% with current Cu price and FX

restart study has a pay back period of 3 years (shorter now with current terms)

Show me a better investment ! The payback is now shorter than 3 years and the world needs more copper in a stable jurisdiction.

I am NOT as pessimistic as most on these boards, the announcement today mentioned:

"The terms proposed for the USD denominated senior secured bond were revised and deemed not commercially satisfactory to the Company"

"as a result this equity raise will not complete in the current form"

"Concluding the terms of possible alternative financing arrangements is expected to take
several weeks and the Company will advise of any material developments regarding the
alternative financing process as it is progressed."

The fat lady has not sung!

The sharks are circling and the toothless ASIC only has a feather duster to fend them off, I am sure Glencore is still in the shaddows.

The fundamentals of this project speak for themselves, there is a great deal coming up for somebody.............

gltah