Hi, I think Mo is referring to the 'new' offers being the offers...

Hi,

I think Mo is referring to the 'new' offers being the offers they received after the announcment of the mining licence as referred to in their anouncements of 26 July and 31 Aug and that they will therefore know the terms of those offers and are assessing them - as opposed to meaning they are still looking at or for new offers. I didn't understand their announcment to suggest that more open ended process.

In any event, it is now two months since the licence was granted so probably not an unreasonable period all things being considered.

Also, as previously raised on this forum, funding in the Middle East may not be quite as we are familiar with. I would supsect that the 'conventional' loan structures we know may be easier to assess and compare, whereas with more variables at play such as possible equity stakes, more thought may have to go into what may be the 'best' outcome in the longer term, rather than a strictly mathematical approach to terms. That is, a strategic approach may be required.

Hopefully not long now.

Cheers all.