Ann: 'Hard Rock' Project - Environmental , page-13

re: Ann: 'Hard Rock' Project - Enviro... darryle

Thank you for your post.

Mitsubishi seem to be the front-runner for the next stage with a MOU which includes a $15 Mil injection etc as per recent announcements.

I think one should also remember there are other interested parties as announced and the negotiation door may not be closed till a signed binding contract is announced.

As Treefeed and others have pointed out Mitsubishi and others will require their pound of flesh. So it is the responsibility of the Board to negotiate the best contract for shareholders.

As it is still a MOU I think the market needs to see a singed contract with whoever prior to getting excited.

I was delighted to see Jim Morgan (CEO) buying on market but I was a little confused as I assumed CNQ were in the middle of negotiations.

As per the presentation the “Long lead time items” ordering is due to commence next month so I assume we will see a concrete funding agreement in the next few weeks.

Please DYOR.