97m to 98 m, page-35

insaf,

the sale agreement is already well in WEG's favour, hence why they'd be stupid not to take it.. i have no faith on, 'in good faith' whatsoever and that is due to all the games they have played out to date.

what do you think will happen if they don't agree to the sale price of $21M? what is their position then? they risk losing their 50% for nothing..

as for IO, we all know its cyclical and the long term trend is 'down', that doesn't mean no one will want IO and Cockatoo's ore will always be in demand, its the low grade with high impurities that need to look at future demand and their costs.

as for ability to attract credit, yes it would be hard no doubt, i dont think any new IO mines will open in WA in the forseeable years (Gina aside) but the fact we have cashflow and an operating mine helps, a potential new JV will also be required to assist in bringing stage 5 to life.