Ann: Update on Construction Funding for Nueva Sabana Project, page-10

When the word loan was first written in ANN,

it was said that the conversation with the off-taker was positive, but that was probably false.

Based on Brian's previous public disclosures, when a new word was written,

it meant that it was going in that direction.

Since I have only received very small loans,

I don't know what the expression 'encouraging' negotiations with lenders means.

The management should have considered other methods of financing besides the down payment from the beginning.

Anyway, it has become clear that FIDs such as the $27 million down payment or the $85 million down payment from LD are not realistic.

The fact is that nothing has been confirmed for the $10 million down payment or the $20 million loan.

It would be better to wait and see without expecting much.

I want to see the end of this project FID.