Ann: Part sale of PNG assets for US$60 million , page-9

re: Ann: Part sale of PNG assets for US$60 mi... Shrewdie,

They've done the right thing, and this time they've got a more credible partner and half the cash already in the bank. If their partners input helps them get stripping at Stanley off the ground in an expedient manner, then they have won a great prize. Their talk about reusing most of Stanley FEED work for Elevala does not instil confidence in me that they have what it would take to successfully go it alone. Project execution of that nature takes a lot more than a company like HZN can generally muster the skills for.

NOW, they are financially derisked, at least until they need funds for Beibu.

EL