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    David Erb

    Research Analyst at Merrion Investment Management

    David Erb's questions to MIL leadership

    David Erb's questions to MIL leadership • Q2 2015

    Question

    David Erb from Merrion Investment Management sought to clarify if the Pea Ridge mine investment was included in the balance sheet adjustment for iron ore assets and asked about the status of royalty payments from Cliffs for the Wabush mine, which could trigger MFC's rights.

    Answer

    CFO Sam Morrow clarified that the Pea Ridge investment was not in the adjustment and was categorized under 'other long term assets.' He confirmed that Cliffs had missed the Q2 minimum royalty payment for Wabush, but a cure period exists and the CCAA process complicates the timing of exercising their contractual rights. He also stated the company would disclose if a cure payment is made.

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    David Erb's questions to MANULIFE FINANCIAL (MFC) leadership

    David Erb's questions to MANULIFE FINANCIAL (MFC) leadership • Q4 2014

    Question

    David Erb from Merrion Investment Management requested an update on the Uganda hydro facility's operations and cash flow, any potential for recoveries related to the Goa situation, and details on the Alberta Power project's financial arrangements.

    Answer

    VP Rene Randall reported that the Uganda power station is operational with annual revenues of about $3.8 million and that the company has already sold its investments in Goa, with no expectation of further recoveries. CFO Sam Morrow added that the Alberta power plant project would see its first sales in May 2015, with final commissioning in June, and that it would initially run at 100% capacity.

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