another extension, page-44

Zero no upfront money by PDY only demand guarantee, please read before you post. The demand guarantee could be as easy as a Korean engineering company providing their services worth 20% self funded for a stake in the 36% of MWI.

He said Padbury would be required to find a 20 per cent "demand guarantee" to underpin its share of the project.

"We provide 100 per cent of each phase of funding, and we don't even get the 20 per cent demand guarantee to be able to call on until after each phase," he said.

"Now who gives you your money first, and you only have to provide your 20 per cent after you've already had 100 per cent of the money?"