Ann: MoU for Supply of Briquettes , page-39

Discuss some project finance is a good idea. My serious suggestion to get the project forward:

1. Modun & White should create a JV cooperation, e.g. "Nuurst Supercoal JV Ltd."
2. Moduns contribution into the JV company is a part of the Nuurst coal project as investment in kind (rated at fair market value)
3. Whites contribution is a BCB license and cash.
4. Additional capex and future profit sharing according to JV agreements.

Its time that MDs get their ducks in a row now.