Ann: Bawdwin - A World Class Silver Project Presentation, page-425

I didn't say @ 2%; where did I say that?

As I said I am not privy to the detail of the project financing discussions. However; structured debt financing is specific and unique to the project itself; and can have all sorts of deals within the deal itself.

Maybe an investment bank like Macquarie will agree to an investment loan of US$150 million at a rate of a few percent for an equity allocation of shares at first pour.

Like I said; structured debt financing can be very complex