Ann: Amendment of Tranche 3 - Early Payment by China New Energy, page-4

It certainly looks as though we are on track.

I would suggest they have split tranche 3 into two as there are inevitable hold ups through the process undertaken to produce the Independent Experts Report for the original tranche 3.

I'd also suggest that this is an indication that construction is well underway - as the funds have likely been disseminated to the various fabricators, hence the need for Tranche 3 (now 3 and 4) to be placed.

To me - great news - it shows CNE are in for the long haul, have the cash and significant interest in the LCEP.

Also shows that LCK are still our quite achievers - minding their own business and hitting all the project milestones they say they will - very credible group.