Ann: Update on Receivership, page-6

interesting i hadn't heard proceedings against WISE had commenced.. as stated previously, what was their argument against PLV 'we dont owe you money?' i dont think they appreciate we have a functioning legal system here, GNR/PLV kissed and made up with Rizhao so they are happy to have GNR underwrite their debt, the pre-sales are gone as is a % of the overall debt, im betting WISE are all alone now assuring SS&T they have other options to screw us..

As for $/ship all depends what grade they are throwing onto the ship, i heard the mine plan that was to be announced with Watpac greatly extended the life of stage 4 with little capex required.. then WISE threw the 'Removal of PLV as Manager' hand grenade into the mix but as per Watpac's promissory note stated all this crap had to be sorted by Dec 31st 2014 for it to be executed, judging by that announcement it just might be..