Ann: Investor Presentation , page-9

hunini

True but as posted previously & i forget the reason now you have to look up. The money was not raised for a cash war chest for D&C.

It was either a repayment of o/s loans or for other items.
(Can't remember)

But was definately not available for Peru.

However i agree that D&C could do something like that which is why the offer is set as it is. If not happy we buy from you.

However if SRK take it self over 50% they will control the project & it would possibly be in D&C's best interest to take the cash after that.

Plus you don't just say hey want $2 a share. You negotaite off paper - They either agree then the offer is done & accepted or they offer more to SRK.

Not such a bad thing if D&C buy's Peru. Saves us a couple of Billion in expenditure which we have to get from somewhere