I read it in businesspectator breakfast deal...now mits expected...

I read it in businesspectator breakfast deal...

now mits expected payment is 500m

They assured that mits remain committed to infrastructure project but they didnt comment anything about whether mits is committed to JH project...They were going to do payment this quarter why is this changed to next year and they did say that they are negotiating payment with mits...surely mits trying to do less payment and that 500m do have substance...

may be they dont expect mits payment coming through...if u note in announcement they said "Mits interested infrastructure" project they didnt say anything about JH...

Read below:


The timing of the Residual Contribution is contingent on satisfaction of certain conditions, which are outlined in Appendix C, and is to be determined through negotiations with Mitsubishi at that time. The final quantum of the payment will be based on final bankable feasibility studies as recommended by the chief executive officers of Crosslands and OPR, and there are a number of outstanding factors which may influence the size, or certainty, of the payment being made. Given all of the circumstances, it is not possible for Murchison to give guidance on the likely quantum or timing of the Residual Contribution at this time.