worst case 3c per share cash best case cadlao , page-76

If the arbitration goes for the full course of steps as outlined by WB then one or both parties does not have the management capacity to develop this project. History is a better guide than most believe.

The most likely and most positive move for shareholders will be settlement of differences prior to the completion of arbitration. Offers will be made by both parties and if management are skilful enough they will both accept and move on.

Clearly the length of time being taken means that some parties are located overseas and not communicating effectively. If this continues the project is unlikely to be developed and will eventually be given to other parties. We are running out of time and IMO if an announcement is not forthcoming by mid Oct then Blade and RAI will both find the going difficult and both parties will lose out.