Ann: Hazelwood signs trade finance terms sheet , page-5

re: Ann: Hazelwood signs trade finance terms ... Re-visiting their most recent press releases shows the company has to overcome several obstacles before regular production can be achieved.

1) Power supply agreements for furnace production power have to be concluded.
2) a) Negotiations with the JV partner re *funding* of final construction and purchase of the inner refractory liner have to be concluded.
b) A decision re *timing* of the liner purchase has to be made.
c) Liner has to be purchased, delivered and installed.
3) a) Feedstock has to be ordered, shipped and received.
b) The Chinese engineers have to return to site.
c) A phase of trail production for fine-tuning the production process and final tests must be passed.

Then commence commercial production and continuously meet quality expectations.

To me this list indicates that commercial production before the end of the year is in question. I'd very much prefer seeing the company come clean with the market regarding timing of all these issues over being vague and delivering one disappointment after another. They should issue a crystal clear schedule for all these events from the very beginning and then stick to it. That's how they could earn shareholders' confidence in future projections which in turn would very much help the share price appreciate.