Let's review the scenario here and see where we stand.

As of early December, there was $40 million firm from Canadian sources and $85 million soft, $50 million from a large US hedge fund and $35 million from a smaller US hedge fund, yet to be mined.

Both hedge funds were said to be enthusiastic about the deal but the smaller one was not going to participate unless the larger one did.

My source is on vacation as of today. The last thing he told me was that the PP hadn't closed yet.

Late last week and today, Teutracker's source checked and then double checked and confirmed that the large hedge fund (aka lead investor) had committed but the PP would stay open until Macquarie got written commitments from ALL.

However, Teutracker's source said nothing about the decision of the second hedge fund.

So that's the big question. What did the smaller hedge fund decide? If it plays out according to the scenario that my guy presented, we are okay.