Ann: TerraCom Receives Indicative Approval - Blair Athol Mine, page-22

If they need a CR then they are b-ll^iting the market about income from BNU. You cannot say you have millions in payments rolling in and coal flowing and then say we have no money. The government only gave approval for BA as TER have shown they are financially able to start and run the mine. I cannot believe you would get approval by telling the government u will get money after a CR. I think we are on the cusp of announcing conditions are met and the licence has been granted. Then the monies due from the mining contractor, etc are released and if we go.