Wild Bill, I think that your interpretation of the $34M clause...

Wild Bill, I think that your interpretation of the $34M clause is slightly off mark. My understanding is that CHN can break the sale deal with SFECO if ENAMCO dont pay the money owed for their 30% share. The purpose of this clause is therefore to 'encourage' the Chinese to provide a line of funding that allows ENAMCO to make the required payment.

Still a smart move as the theoretical alternative if ENAMCO didnt pay would be for the 30% to revert to CHN resulting in a very messy project ownership structure of 60% SFECO, 30% CHN and 10% ENAMCO (free carried).