the more I think it stinks.

There is no way that CRRC should be getting 2/3 of LC without, at the very least, reimbursing us for 2/3 of the 500 million we invested in this project. That money has gone into social projects, engineering, equipment and just surviving and keeping the MOC current for all these years.

CRRC will get 2/3 of all of that in return for what? A loan? The permit?

We have been held to ransom for the permit. This is a very dirty way to do business and while it doesn't surprise me coming from Hugo, I expected better from the Chinese.

There is a simple concept of financial fairness that should be part of any business transaction and this deal is miles and miles away from being fair to the people who put up the money to make all of this possble in the first place.

If we had been even partially reimbursed for our earlier investments in this project we would be in a much stronger position, with plenty of money to pay off the note holders, and there would be no need for further dilution.

I vote no!