Ann: 4DS Australian Open Briefings Presentation, page-52

Did I say they were? While the company may say that, you (well I do) have to factor in some probability based on the stage of development. Perhaps we will want to run PL7/8 to refine even further. It may be in some form of strategic partnership. But in my opinion, this is not yet ready for (an optimum) sale, and in all likelihood, there will be more development necessary. Remembering we have 3 odd years of cash.

Not sure why you need to be aggressive in a discussion but each to their own?

I never represented management. Not sure how you draw that conclusion. So, they said we are for sale - that means we must not apply any thought process and should interpret that as, no further improvements could or should be made to either increase likelihood of sale or increase potential sale value. It must surely mean that sometime now and up to 20nm we are sold.

My opinion is that just perhaps there's a greater than even chance we go on to run another few PL's, knowing full well that it is very unlikely we hit the refined product we want on PL5/6. I'd say the greater probability is we at that point have a strategic commercial partnership to further develop it / test it towards a product they may buy.

Does that mean i think the tech is a failure, not at all. I think that likely in order to really see what it is capable of (in order to get the most $$$) we will discover things (this is good) in the next PL that we will choose to improve in an enhanced 20nm run.