non-binding letter , page-25

With cash Chalice could use some in Eritrea and some elsewhere Stateside spreading the risk and the potential.

Were plenty of director buys in the run up to the watered down sanctions so the companies view is not necessarily the same as the markets at large.

But at the same time they cannot ignore the markets view over politicial risk even if it is more perceived than real.

Guess it is short term versus long term. Short term shareholders get more money if whole firm is sold. Long term shareholders get even more money if only the project is sold.