Ann: Half Yearly Report and Accounts, page-21

I'm not quite sure what you're getting at? They purchased 25% of PT Gulf for A$6m, correct. And also 5% of GMC for A$2m. And provided a A$7m funding facility with 20% interest p.a.

If the project makes it to production, then they picked up a large stake of it for a bargain, especially considering the previous cornerstone investor was reportedly willing to invest US$10m for a 10% stake in PT Gulf.

I have never said it was a good deal for GMC shareholders, but I do believe that with their deep pockets and political connections, that this project finally has the security it has lacked for the past few years and that the risk to investors has been greatly reduced.

Here is a link to the Indonesian 150 Rich List. #17 Eddy Sariaatmadja, 66 and Fofo Sariaatmadja, 54.