games continue, page-75

hOOt

I was just stating the differnce between a Sole Agency and Exclusive agency as it applies to Real Estate .

Exactly... Real estate.. Not selling iron ore world wide.

Ok here is my take on what, if any marketing agreement negotiation/changes need to take place.

Weg has an exclusive agreement to sell all of the ore that goes to China and gets a percentage. That is why they missed out on the Korean deal

A new body has come along and is interested in taking a percentage of (the know resource) of Cockatoo,(with maybe a figure in dollar terms for future discovered ore) with that they are not happy to pay weg the percentage that they would be due to pay as they are Chinese or the ore will be going to China.

So the details that need to be worked out are how much do weg want to forgo the marketing agreement.

In a nutshell:

weg have 0% of Cockatoo, no marketing agreement. But will recieve $Mxx to play ball.

A new player pays PLV $Mxx for a xx% stake in Cockatoo and get first right of refusal on any ore shipped from Cockatoo. They also supply the $24M debt funding for ongoing capital works and Irvine DFS.


Been a long day, forgive any typos as I can't be fagged looking for them.

Sayonara ..