What is going on!!!!!!!!!!!!!!!!this ann is just a condensed...

What is going on!!!!!!!!!!!!!!!!
this ann is just a condensed copy of the one on Oct 27th 2010 with the only real difference being that they are going to start soon or so it would seem.
The Money from the Chinese was always meant to come through as Below
Ann 3rd Sept
"The Parties have agreed to a 25 day completion period under the MOU, during which time the Parties will finalise legal and tax due diligence and enter into a Memorandum of Agreement (?MOA?) that will set out the detailed terms of the proposed transaction. Upon execution of the MOA, CGGC is to make a payment of US$500,000, and an additional payment of US$500,000 is payable within 70 days from the signing of the initial MOU."
Fail !!!!!!!!!!
54 days Later!!! so much for the 25 day time line!

27th Oct Ann
"A US$1 million commitment fee is payable by CGGC in 2 tranches;
o US$500,000 within 5 days of receipt of letters of support and confirmation from Indonesian Energy and Mineral Ministry (ESDM), Central Sulewesi Government and Toli Toli Regent.
o US$500,000 within 30 days of the first payment (above)".
Fail !!!!!
Now 105 days Later ......A bit over the 70! they re release the same news

9th Feb Ann "(CGGC) agrees to advance first tranche of its $500,000 Commitment fee"
Hello this should have happened by now and be talking timelines and agressive ( was their wording) 12 month schedule
Give me a break!!
Guys do'nt say if you can't stick to it we need confidence in your ablitiy to manage, one of the key ingredents of managemnet is the ablitiy to stick to a time frame for Pete's sake! (not aloud to swear)
Give us a reason to be confident stick to your time frames .......in fact put some in.
The current ann has a wishy washy timeline set out that says within 24 months we may see early production
What about the infrastructure .......as an engineer I can not understand the difficutly in setting out a project plan that is easy to follow ....with out it god knows how you will put this thing together.
Chicken entrails and smoke won't do it!!

Stepping of soap box now
Sorry for the rant fellow holders but Sheeeeeeeezz!
the market has spoken and dosn't look like it sees much to be joyful about either

Going now to replay Tony Abbotts channel seven response .......Makes more sense

CHeers Fellas