Ann: Mandated Lead Arrangers Appointed for Nolans Project, page-21

On FEED -> soon FID Yes/no. nothing definitive to correlate, but a requirement for the later. A lot of adviser, off take, legal work needs to happen in parallel or after.

on banks being appointed, they usually aren't paid anything until deal closure so good to have the enthusiasm from banks on board, at their own cost currently, until their payday. It's good that the originating banks have also promised some $ in the pie, but this would be a pretty standard offer for them to win the MLA RFP.

D:E ratios look v.good, although past CAPEX estimates are exactly that, past, and new ones may be a bit higher given current outlook for energy, steel, cement etc. There is no such thing as CAPEX cost until you get the LSTK contract from someone.

ciao