cashflow and xstrata, page-2

The $10m option fee is contingent on a positive BFS - there is no question about that point - so the Option fee should be viewed as an Exclusivity Arrangement.

Stay or go - NKP will receive $10m option fee. This was also made clear by Edison in their understanding of events.

To my mind, the finalisation of the BFS is not significant to warrant a trading halt unless there is a material mistatement to previous workings. I doubt there would be material upside - which would also not warrant a Halt either.

It could only be a crystallisation of X's commitment, a cap raising (which is just dumb if you ask me if they pursue this path) or TO.

Time will tell - what a potentially excrutiating weekend this will be