Ann: Burton Wash Plant and Boxcut Underway, page-7

I'm fairly positive about the deferred repayments at this stage. Raising funds is becoming increasingly difficult and as BCB continues to develop over the next few quarters, you don't want to be caught short. A delayed payment on an existing loan (and agreed with the lender) is better than raising new cash through new loans and equity. Also it doesn't hurt at this stage to build in a capital buffer as not everything will go to plan, it doesn't mean we're short of cash. I expect the quarterly to show we're treading water at the moment while still spending big on development, but we'll see I guess.