Ann: Market Update, page-60

Dear Tolate,

IfWAPRC cannot obtain China's NDRC approval to invest in ANS, Australia in 3 months (more than 12 weeks), do youthink that Australian Government will grant the Mid West project to ANS?

Haveyou read the following news “Australia has formally rejected a $13 billionChinese takeover of the country’s biggest gas pipeline”?

SDLiron ore project is in Cameroon and Congo, Africa and not in Australia. It is likelythat many reputable Chinese companies with international reputation would be interested to invest in SDL iron project. Of course, unknown Chinese companies may not have the financial capacity to execute this $6 billion project including rail and port infrastructure. So let us forget those small players in this huge project. Be realistic.

 Since the SDL iron ore project is in Africa and not in Australia, it is less likely that there would be an issue of FIRB (Australian government)  approval.