Ann: BMB Secures Investment in Nowa Ruda Project , page-41

re: Ann: BMB Secures Investment in Nowa Ruda ... The Ann dated 22 May para 3 and 4 are the keys. They are waiting for payment, they dont have it. You can cross check through your own means.

Providing the buyers are EC individuals / entities I am pity sure we are ok.

If the buyers (main buyer) is Russian and there is laundered money involved, then I dont like our chances. Russia is said to be closing in on launder money and a very good way is via international banking system. Pure speculation.

Russia is obviously outside the EC so I dont know how strong corporate law is.

On the flip side, if the buyers are from within the EC, our chances are good; but we also dont know the legal argument of not wanting to proceed. May be it is undisclosed facts. There is no chance of ever gaining any info from BMB. I haven’t been game enough to ask where do the buyers originate from, but I would be very interested.

Another unrelated point Pres Obama’s recent speech to close down coal lit power generator stations, should have no affect on the coking coal industry. The two are semi independent from one another. ‘Semi’ because many coal mines produce both.

Coking coal industry has its own issues. Also it seems the composition of the coking coal really needs to fit it with the existing coke producers and steel producers. So the BMB comment that such buyers know our coal and they are use to it, holds quite a lot of value.

I may know on the engineers door when Im in Poland in future months. Will probably end up in an Odessa bar with my mafia mates watching the World Cup.

PS The best thing about brokers is they are following say 50 stories going on at once. Stories via telephone, emails other brokers so they can choose the best one in town.