To reiterate what may be a very positive announcement about...

To reiterate what may be a very positive announcement about fundingwhen it happens.

 In rough numbers ifCZI was to try and raise it's 30% of project cost being of $250m with a loan given itstiny capitalisation. The banks would require project equity say 35% being 87.5M to loan $163M.  That would massively dilutecurrent share holders. Also the interest rate for the project may be 12%.

 

 However, if OZL usesits balance sheet to fund the WMP project. The interest rate may be 9%. The fundingagreement I speak of is clarity around what OZL will want/agree for that assistance  if CZI can’t find other equity takers ata suitable price.  

 

OZL have about as much cash at present as it will cost forthe rest of the build on Carapateena. By the end of the year, in production rampup, they should have as much cash again. How well Carapateena goes and hencetheir balance sheet strength is important and that’s where Harry Dent’s questionis highly pertinent. All IMHO

 

 Sorry if you’re allacross this it was a very positive announcement at the Nov. AGM. I don’t believeanyone spelled it out like this. Though most would be aware of the challenge.