Ann: Quarterly Activities/Appendix 4C Cash Flow Report, page-3

thats an awful lot of achievement in the last quarter.

Lots of cheap shots here from folks who would have no concept on what is required for a major EPC project and to get a $214M unsecured project up and financed. Lot of gamblers at this end of the market. I'm impressed at what they have managed to achieve. Like others, i'm now waiting for them to close the deal. It is important to close this first deal for credibility before we can speak with authority about scaling up.

But one thing no-one can take away from them. Our directors have skin in the game and this is underlined yet again but the fact that none of them basically drew any salary for the entire quarter. $42K in director payments for the whole quarter. Who else wants to put up their hand and say they worked for free for the last 3 months.

And more importantly, would you do it, if you didn't have the utmost confidence in the project you were about to deliver??

Food for thought.

Remember EV of about $26M with a $214M project about to commence and a pipeline of nearly $1Billion.