edit a quote from pt, page-9

Thankyou for your answer about the $US40M letter of credit

How confident are you of securing the sales contract with Shougang ?

Thankyou

Phillip's Answer
This is a question that probably doesn't deserve an answer as it is trite, so let me say from an evidential perspective:

- I have spent four days with Shougang in China meeting with their President, viewing their plant and iron and steel making equipment, learning about and analysing their production processes so we can tailor our production to their needs re chemcial analysis.

- They have six people visiting the Chile plant next month and two have already visited the plant.

- They have appointed a special project manager for the CMSB/ADY relationship.

- We have a draft sales contract which we are reviewing.

- They have seen how insistent we are - $40m SBLC lets you buy a supply contract - no SBLC no contract.

what more can I say??

PT