Omagine

Hi Jeff,

Thanks a lot for your very thorough explanation. You knowledge of every single contract detail is very impressive! All you said makes a lot of sense, and I hope things will work exactly the way you suggested.

However, there is still a fact that in order to ‘raise initial financing’, a new financing is needed to employ ‘one or a combination of consultants’ to ‘perform a full third-party financial feasibility assessment’. The cost of that, I presume, will depend on potential investors, and for the project worth $2.5bn could be phenomenal. Some investors would like to see very detailed (updated) figures based on very detailed (updated) plans, some not. This is, more or less, what I am talking about. I hope the management will initially manage to get away with a simple appraisal! Fingers crossed.

I can still bet that starting with the Phase One Activities (Project Development), will move stock price much more than any additional agreement you mentioned.

(And it is simply because the Market needs reassurance that Management is committed, and prepared to spend some significant amount of money to get the things moving).