Ann: Continuing Delays to Financing LLGTP - DR , page-7

re: Ann: Continuing Delays to Financing LLGTP... JID

Thanks for the update.

I was wondering whether my idea of MacBank just having a mortgage over EVG's share of the project could get up, and I agree that it looks like the simplest way to go.

I take it that BJ has been talking with other bankers for possible funding and told MacBank no deal unless they compromise to some extent in the event that Grimston do not have to play ball.

One positive, as you say, is that the hedge will be at far better price than originally anticipated (assuming that MacBank do not work EVG over on that score) and that this will provide funding for future projects.

I hope we have at least 2 projects going at top production levels with total 150,000 ounces per annum when the price of gold peaks.

loki