Ann: Mitsubishi Funding & MoU Update , page-38

Hi tpcs
Thankyou for pointing out that the permit for the stockpile is in place, and has been for some time.
Regarding the Mitsubishi money, like you, I remain cautious of their actions, until we see the balance of the $15 mill that was mentioned.
I think it was Amok who said that was as good as in the bag, given $1 mill has already come through, and I bow to his superior knowledge of Japanese work practices on this matter. Re APT supply, I don't think its a problem sourcing it on the open market, but may become so down the line, with increasing demand forecast and political issue between China and Japan, likely to bring this metal into play. Just now though, they would be on the open market, sourcing any material at market costs. I know, though, they would still prefer a dedicated supplier eventually.

Re Mitsubishi taking their time, it occurred to me that CNQ is not the large sized company that they would deal with normally, so if my reading of Japanese corporate culture is correct, the guys at Mitsubishi's end would be taking on quite a risk themselves, in recommending CNQ as a preferred supplier, because if they get it wrong, their necks would definitely be on the block with senior management. Then good luck trying to get a job in Japan having been fiered from Mitsubishi. I might be off mark here but maybe Amok can respond with his thoughts. TIA