Jurek:

" In 2009 CLL will be able to meet their operating expenses and interest payments by using the reminder of the $600 million loan."

Is the above statement your own or did you find it somewhere in the dec presenetation? Does it mean that the last dollars will be spent or a portion of the remaining 600 million will be spent? I went over the presentation and specificaly slide 6 which provided the information below.

End of 2009 cash position 9 million

Credit Facility capacity 200 million

End of 2009 cash and credit position 209 million.

Slide 5 gives the following information.

Cash balances of $289mm sufficient to fund revised capital programs and service debt through 2009 (1)

–$150mm and US$50mm bank lines unutilized

Now correct me if I'm wrong, and I know you will, but my understanding of slides 5 and 6 is that at the end of 2009 there will be 9 million cash on hand ( From the 600 million loan) and 200 million available ( also part of the 600 million loan) on the bank lines.

Jurek:

"Simply put the ALGAR construction is not going forward because there is no credit or cash available"

This simply isn't true, unless I'm really wrong about the slides, They have 209 million in cash on hand and available credit.

Now getting back to my original post about buying up undervalued companies.They have 209 million in available cash and credit according to slide 6.When I have the chance I'll go over the post about the financing. To the best of my knowledge IT'S a done deal and cannot be reneged upon by either party. Also to the best of my knowledge there are NO restrictions as to how this money is spent, so therefore the remaining 200 million of unused credit may be used to make aquisitions. Now obviously they'd have to choose one or the other.

Also from slide 6

PS, SORRY about the huge numbers,,cut and paste

End of 2009 cash and bank credit position anticipated to be sufficient to complete Algar in 2010•