Ann: BBM Project Funding Update, page-188

One never negotiates with one party..always multiple parties to create competition.

Coking coal margin is much better. And it doesnt oxidise if left out on air.

When one is in a commodity business, never mix it with debt as no one knows when the item is no longer hot.

Domain gives a blank check in return for 30% to ensure it is built. They would have the same equity risk with us.

Banks dont care about equity of business. Theyd fold you down when things arent working. Having a partner with an aligned equity interest is way better.

Though we are in debt with platinum, the nature is different. Platinum's admin would never fold cokal as (1) they have responsibility to the platinum stakeholders to get much as possible back, made possible by the $40m worth of royalty over time vs the $15 of face value; (2) platinum's admin also want to see cokal succeed through their ownership of 120m of common stock.

It's why when vontrader said about platinum debt has conditions that will not be satisfied it was all nonsense since platinum's admin will always want to renegotiate conditions especially after seeing pci and bbm are operational.

Von was trying to spread unbased fear. And im sure DM knew this.

Dyor.