Kim -

Just heard from Stacy Dickson on BHP Copper.  There is no special requirement for the guaranty just because the parent is Australian.  Attached is the required format.  Let's try to get a $2 MM guaranty to cover the $1 MM+ exposure.

PLEASE ASK YOUR BHP CONTACT TO VERIFY THAT BHP BILLITON LTD IS INDEED THE CORRECT NAME OF THE GUARANTOR.  THIS IS CRITICAL.  I went to the BHP website, but I couldn't tell if BHP Billiton Ltd. is a legal entity name or just a "doing business as" name.



Thanks,

Jay