White Sands Negotiations

Directors representing White Sands Hotel & Spa Limited enaged for a further round of negotiations with senior management at TRG this week. The managers shared new important information about professional property valuations and resort performance expectations with our team.

While no firm conclusions were finalised, the discussions were helpful in allowing our team to understand all of the issues and a route-map for supporting the project to opening. While the TRG team were positive about the demand and operating performance of the hotel when completed, they also explained some of the hurdles that they are working to overcome around financing, and agreements with contractors and government agencies.

Confidential discussions will continue and when substantial progress is achieved this will be documented for our shareholders in the normal way.