suspension, page-21

The cynic in me had expected another delay. How long does it take to finalise an announcement?

After some thought on the matter, here is a possible scenario:

We've been told the mandate for finance was signed in late May and theyve since spoken with potential investors and made presentations to them.

Its possible that an agreement has been made on the proviso that the reserves get certified so that the investors have some comfort with the project.

I dont recollect any previous mention of RS certifying reserves for the chemical flood so maybe this was a condition of financing. Our management then hurriedly got RS to certify.

The certification and economics report was probably received last Friday and they then presented this to the potential investors.

If I got a report from RS it would take me 10 minutes to draft an announcement. Summarise it in one page and attach the full report.

The fact that it is taking so long makes me think that they are waiting for finance to be signed off. I know this doesnt mean much in light of so many targets being missed, but the last quarterly did mention finance in August. Maybe this is it!