incoming ann, page-8

Thats not what was said Mrs Peel. The bank stated an LVR of 70%. Thats a ratio of 70% against the value of the project which is considerably higher than US$600 million cost.

It may well be possible that SARCO does not need to raise $180 million. It might be considerably less giving ORD a higher percentage of SARCO on the float.

The ball is rolling. All good news.

Interesting next 6 months.