Ann: Contingent Liability Update, page-5

Valueadd this is the $ 300,000,000 that we were told was due in April 2018 so yes it has been rolled over but Gindalbie has ""NO FULL RECOURSE DEBT OVER THIS LOAN " which traditionally means i think they can not chase us for assets outside of the original project ( they can sell all Karara's assets but not Gindalbies )



A limited recourse debt is secured up to a certain amount. For example, a loan on which 40% of the principal is collateralized is a limited recourse loan. A limited recourse debt falls somewhere between an unsecured and secured loan, and has interest rates that are typically lower than unsecured debt because of its relative safety. Often, a limited recourse debt contract is structured so that the debt transitions to unsecured, or non-recourse, debt pending the completion of a specific event. That event may be the completion of a project or the establishment of a specific revenue stream for which the debt was issued. For example, terms for limited recourse debt for a large project such as a power plant could mean that a creditor is guaranteed to receive 25% of the principal in the event of a default up until completion of the power plant.