new orders, page-191

I think the fact the Aussies walked away from the same deal ( perhaps and even better deal than WEG were offered ) and " a number of other interested parties " let WEG have it basically for free as long as they pick up half the costs demonstrate that perhaps there is no plan " B " this time round


Melbourne, 16th July 2012

Since 2nd July 2012, the Company has vigorously pursued discussions with a number of interested parties who have expressed serious interest in supporting the Company’s activities to acquire the Cockatoo Island Project from the Cockatoo Island vendors, who have agreed to extend the deadline for signing the Asset Sales Agreement to 31 July 2012.

The Company is expecting to finalise today a binding Term Sheet with an Australian based entity to enter into a 50/50 unincorporated joint venture structure immediately after the Company has signed the Asset Sales Agreement with the Cockatoo Island vendors