Ann: Project and Funding Update, page-168

Agree, a wise decision. The pluses are that the project is still on budget and on schedule (albeit for the lower capacity). However we need to be real here and know that this volatility will continue for the short and possibly medium term. The real worry that I have is that management will need to secure this new revised funding arrangement. Any increase in the budget or further deterioration of the market conditions could spell disaster. We have gone from being potentially the industry benchmark back to a risky near term producer in the space of a few months. Who knows where we will be by April. There is also the small matter of GR and her buddies in the background who no doubt can now smell blood in the water.

I know that I am just stating the obvious here but sometimes we just need to take a breath and look at the facts that are in front of us in order to realistically anticipate what may or may not unfold...