Ann: EcoGraf Enters into MoU for Grid Power Supply to Epanko, page-20

Hi Stirer, yes will be interesting, I believe your conditional term sheet indicated a yet to be determined high yield margin to be added on to the base rate and also a as yet to be determine portion of free cash flow to be paid to Gemcorp. Will be interesting to see if that sort of free cashflow payment would trigger the Govt free carried 16%, much like a dividend payment would.

Certainly an interesting arrangement and perhaps as you say it will also help our understanding of these Framework agreements , as opposed to the Free carried requirements.

Anyway, all the best this time around with Gemcorp Capital.