Ann: Lodgement of Open Briefing , page-12

Hi BBB,

As we discussed yesterday management finally have recognised the importance of banking the sale of Van mag. Pitty 2 years to late. With regard to the sale of non core assets I do recall Turvey mentioning this some time ago.

I notice that the briefing has Penumbra ownership with CCC Australia at 80% - would have thought it was 64% same as Ferreira ( CCLSA 76% ,Marsahla 84%).

Any thoughts? If this is correct then this is a positive. ( earning 80% of $15m directly to CCC and % ownership once Mahsala is 100%?). Maybe Mahsala have not been funding their proportion of development diluting their %?


cheers