Hi Mr. H. Happy new year. Talked to Cath at the Gold Coast...

Hi Mr. H. Happy new year.

Talked to Cath at the Gold Coast meeting about finance. She made it clear that FAR had options to join in on the JV finance(or part thereof) or to go it alone.

She pointed out that FAR had been in discussions, at that time, with some solid finance options which Cath said looked very competitive to the JVs initial proposals. She made it very clear that the financing options open to FAR were not in the least hamstrung by anything the JV proposed.

Obviously, these comments were made by Cath with her full knowledge and understanding of the JV agreements terms and conditions that apply to finance.

The point being, that the financiers, that FAR had been in discussions with, would be fully aware of the importance of any impositions that the JV (first tier) financing would have on their offers to FAR.

If they have offered competitive terms to FAR then it hardly seems likely that they would be doing so if their security could already been tied up and locked away by the JV.