Ann: EXTENSION OF THE SKN GUARANTEE OF THE KEBA L, page-2

re: Ann: EXTENSION OF THE SKN GUARANTEE OF TH... Common sense result.

SK continuing to guarantee the loan was the key factor here, otherwise KEB wouldnt agree to extend the loan (which they havent yet). I think KEB wont have any option but to extend, given a creditor's administration of COK would cost a lot of money to administer, would probably result in KEB getting their money back later given going concern type inquiries by an administrator and complex issues at the asset level given we dont own 100% of our assets.

28 September should now be the end date. I dont think the SP is going to move much given this is jsut kicking the can down the road, but this statement is a postive "Cockatoo's plans to refinance the KEBA debt and fund the development of the Baralaba Expansion
are progressing positively with negotiations ongoing with a number of parties including SKN." So my money is till on management to get a comprehensive package implemented, including equity sell down and project debt financing.