Ann: Clarification to Media Article, page-9

My take - they have to say they are "unsure" until they know the structure and pricing of whatever deal iM3NY is able to elicit from the HSBC capital raise efforts.

The nature, structure and pricing of the capital raise will then influence whether MNS feels they need to raise capital themselves to maintain a certain % ownership, or if the dilution is such that they are happy with a limited level of dilution and will save their capital raise "powder" to fund Nachu or the graphite plant.

Quite unsurprising response from my perspective - is exactly the response I would have issued if I were in their shoes.