Ann: 2009 Annual Financial Report , page-24

I believe the problem is the projected cash return on the $1bil CAPEX is too skinny. That's why the figures are being re-run and that's the reason for looking at vanadium and titanium production as well (to generate more cash).

If the projections made sense the project would be funded by now, probably by a JV with a Chinese company.

Does anyone know when those figures are due? A good outcome with the numbers will have a huge impace on getting the project up and running.

JT