vc contingent on pcvf - ???, page-4

Pt 1 .. as stated.. formidable .. jest obviously missed .. disappointing.

Pt 2 .. Certainly hope your not implying that this PLC has committed funds beyond approved cash in hand. Smoke and mirrors RD.. Dear Kos please address/clarify what "essential operational expenditure" do you refer that can't wait for 7 days.

Pt 3 .. Granted RD Feed stock has been admitted by the board as being an issue currently under action. I still maintain that VC conditions would reasonably require ECT to prove up funding/ability to commit as a contingent to commit beyond moi status.

Agree with your view on coal outlook, coal, coking coal & coke ( and highy reactive substitutes ) stand separate to oil pricing as it is simply a separate market. Steel markets remain firm yet somewhat lower from the highs of SEPTEMBER. Contracts that have been mass withdrawn as a precautionary measure yet are starting to flow back in. The highs are gone but the doom and gloom is not as first implied by the media. Trace elements to the steel industry are by faster to react than the steel industry itself.


SP3 - not so, planing is not committing, nothing in today's ann is progress from the agm statements.