updates ???, page-33

Well, CWE have done all the fundraising they can. They've undertaken institutional offers, retail offers and even got some private funding. There are ASX imposed limits on the volume and number of cap raisings a company can undertake, but CWE has done what it can and all have been successful.

The key will be whether the CEFC loan will be honoured, but I understand that the government will honour all allocated loans (probably the legal implications of not doing so are too great).

Of course, even with all the cap raisings AND the CEFC loan, CWE will not have enough money to fund CETO 6. With no new grant money coming from Australian governments, it is possible that CWE may have to move offshore.

The real problem, however, is how to fund future projects afetr CETO 6. The ideal scenario would be for a large multinational to take a stake. Being half-owned by Lockheed or Siemens, for example, would up CWE's credibility no end, as well as guaranteeing funding for CETO 7 and 8. I can't see CWE having much of a future past CETO 6 without a cornerstone investor.