karara agreements with western power , page-9

Email sent to Michael Weir, will advise of reply..

Good morning Mr Weir,
As a long term holder of GBG shares I would like to ask the right questions with regards to Gindalbie Metals announcement back in 30/04/12-Karara Finalises Transmission Access Agreements.

In this announcement it is stated that Western Power will Purchase the Eneabba to Three Springs line for up to $86.4 mill and refund KML's contribution to the Three Springs Terminal Substation for up to $40 mill with proceeds expected in May 2014. Proceeds of the asset sales are to be applied to the Karara Project $US1.2 Billion debt facility.


My questions are:
1. Are proceeds still expected in May 2014?
2. As GBG/Karara are a major customer of Western Power, has it been thought by the board to, or is it possible for GBG/Karara to open discussions with Western Power to bring forward settlement of sale of these assets in order to improve the project's cash flow position during this crucial period to achieve NamePlate. This may remove the pressure for further capital raisings or other drastic alternatives that will effect the retail shareholder investment value.


Looking forward to a suitable response.