re: Ann: Extension of Share Purchase Plan Clo... The...

re: Ann: Extension of Share Purchase Plan Clo... The underwriting termination events is likely to be if the sp is less than the spp issue price, the underwriter an elect to not processed.

Also I noted the $30 mil loan is stated in the accounts. I wonder whether this signed loan facility with legavo satisfies the conditions such that on 26 June, Raisama interest in Cadlao project does not reduce from 50% to 25%.

I think mgt will be hunting around for an alternative financier, as to loose half of the project is too much of a gamble on one financier, and a Philippino one at that.

It is likely thing will stagnate with no further information gained, until finance is achieved or withdrawn.

I still think at 7 cents it is great spec buy. It could double in price, or at realistic worst drop to say 4.5 cents. I did not really want to hold this share, I just wanted a quick trade, but now it's looking I will have to hold it.

The Environmental impact Assessment is also a bit if a concern.