email from tony re scoping study, page-3

Hi Michael,

I can only come up with 2 possible reasons for not releasing the scoping study.

1) It contains some disturbing details regarding the economics of the project and CFE are rejigging things to make it more palatable.

2) CFE have a serious buyer or buyers and are treating the study as being in commercial confidence.

I'm leaning towards the latter, but we really need an announcement to clarify things.

Can anyone give a possible third explanation? Perhaps I've missed the elephant in the room.

Peter