Deal is subject to finance. OCP may well refuse, and I would say...

Deal is subject to finance.

OCP may well refuse, and I would say are likely to refuse. Zinc is sitting at US$0.933/lb; Zinc TCs are at near enough record highs. Mt Garnet is operating at a loss, King Vol will be operating at a loss - why on earth would you debt finance a deal when the only security you will have is security over loss making assets?

You should be focused on whether the $2m deposit is non refundable and the $1m break fee if CSD are forced to walk from the deal. That would be $3m coming out of the every shrinking $10 debt facility that CSD are currently drawing down on to keep the lights on at Mt Garnet.