Ann: Hanlong and Iron Ore Update , page-13

Guys,

I may not understand you correctly but I think you may be mis-reading this ann. The $38.5 million referred to in the announcement is payable by MOL irrespective of when the TCW facility is paid out - well, the exact amount will depend on when TCW gets paid. It is akin to a break cost on a personal loan - it is effectively paying TCW what they would have received but for the early payment.

Otherwise, I am enjoying your threads. Keep the faith.

Cheers,
Danny