Ann: Quarterly Cashflow Report , page-17

"What does the term 'bank guarantee' mean?

A bank guarantee is a commercial instrument in the nature of a contract, intended between two parties, to secure compliance with the contract. It is an off-shoot of the main contract between two parties.

A bank guarantee is a guarantee made by a bank on behalf of a customer (usually an established corporate customer) should it fail to deliver the payment, essentially making the bank a co-signer for one of its customer's purchases "

Humble if you were to buy a holiday unit of the plan you could pay the deposit by Bank Guarantee without actually drawing down the money.

The W.A govt want to know they can access the $20m at the end of mine life should the mining company not complete the environmental restoration .The mute point is there is not $20m sitting in a W.A bank count as is the case with a retail tenancy bond.

Obviously Cliffs currently have one in place that will be released if the PLV - Timeone deal goes through .

Hoot