Ann: Trading Halt, page-331

HI.

Agree with everything you have mentioned.

But this is my take, and IMO i don't think any holder needs to be to concerned about the CR, it is just enough to get us to the final stage of funding...

We have been told that SKI are fully committed and that they will be taking 100% of our product....that should give every SH the confidence.

- the main event that I believe that we need to be holding out for, which BB mentioned in his ann. on 2nd Jan, is the Finalising of the long form contract, which was stated that they are looking at having finalised this quarter. (hopefully no delays).

This is what I believe NAIF and the banks (whoever it is lending the rest) needs to have finalised to make final decision. The BFS was released already which was the first step for SKI, NAIF and lenders to start process, and the long form contract is the major document that will start the final process and lead to the decision for the finance.  This is the document that seals the deal for all aspects between buyer and seller....and this is what lenders require....whether NAIF or banks.

The CR for $5m in my opinion also for this stage of the project is not a huge amount, and if we have to have some dilution, better to give opportunity and benefit to current SH's.