tony sage - movie mogul, page-27

ZZZAAAZZZ,

Lady Annie - all the presentations I saw had LA pegged at a sale price of 150m. It was sold for 135m. Include the environmental binds and the 5m performance payment and that's pretty much 150m on the nose. We all wanted more than. Surprise, surprise.

Mayoko - was always slated at 100m in presentations. 83m sale price, which includes 47m cash + CFE retain a quarter of the project. Include 5-10m per year in royalties and that's also pretty much on the money, although if Mayoko reaches its 11mtpa target production, they could sell the retained quarter of the project and the rights to royalties for a hell of a lot more than 100m.

Peter