hanlong still committed to moly!!, page-3

Awaiting the December quarterly financial report....

But this coupled with the supposed final date of 31st January 2011 for settlement of agreement of the US$466 million will obviously be some anxious days ahead.(Assuming it were to happen NOW? of course?)

Recaping from the supposed failure to comply in the initial settlement agreements which were extended also October 2010 ??? AND keeping in mind that the initial announcements for funding were also made 30th January 2010.

The agreement was....... "The Financial Penalty described in the Subscription Agreement will now apply on this new date. That is, if the Project Financing Facility is not available in accordance with the Subscription Agreement by 31 January 2011 approximately US$45 million of the Shareholder Loan will be forgiven and US$15 million will become immediately repayable.

Further Moly Mines will, subject to shareholder approval being received at the November 2010 Annual General Meeting, issue Hanlong 35.5 million Project Finance Options to replace the options issued under the Subscription Agreement which will lapse on 30 September 2010. If full binding documents for the Project Finance Facility are not executed by 31 January 2011, the New Options will be cancelled."

Certainly sounds like Moly would be IN SOME MONEY in part but obviously Hanlong will try to alleviate these payments??? (Isnt Moly now part of Hanlong anyways?)

SO maybe a nice firm date would be in order from the Chinese Banker and Hanlong in the Quarterly summary.

Any positive news(in the Qrtly report) like this would certainly get some of us long termer back into happy smile mode.