Ann: Update in relation to Half-Year Financial Statements, page-20

It was a strange decision to remove the pre-condition that required the off take agreement. Especially having just stated in the same paragraph that there were numerous purchase enquiries. One might think there were other motives for the removal like the condition was never going to be achieved but they still wanted the JV to continue or appear as though it would continue.

It was also strange that the error in the accounts wasn't picked up by the company or the auditors given that most posters here picked up the discrepancy straight away.

LWP also clearly stated on 26 August 2016 that the upgrade 'can' begin immediately. Which was just a statement that it can begin, they never said it would.

IMO it appears to be pretty much a JV funded soley by LWP.