get rid of directors, page-3

Yes it really is a bad deal for HIG - I don't know if that means that Xstrata don't rate the project as highly as we hope they do.
Before we were free-carried to completion of a bankable feasibility study and now we are picking up our share of costs to complete this to be deducted from our future revenue stream.
I also get the feeling that HIG aren't upset with the delay as they haven't got the funds together for the construction stage - they are probably hoping that Ramu gets the green light soon so they can sell their share to the Chinese next year and use these funds to partly finance their share of the Frieda mine construction.