Ann: Quarterly Activities and Cashflow Report, page-2

Admittedly I was looking for Macquaries references, but I think this is a relevant comment.

"Altech also continues to work with Macquarie Bank towardsfinalising a project mezzanine debt facility. This proposal to offerup to a 49% project equity interest via a Frankfurt listed publiccompany does not stop the joint venture partner initiative or thework with Macquarie Bank, it may complement these initiatives,or it could be an alternative depending on the variousoutcomes."

Makes pretty clear that the recent equity is a tool to see us get to finance completion regardless of what Macquarie does from here. I still think Macquarie's mezzanine debt option will be a more value accretive option for current shareholders, but it's good to have options at the final sign off table. Don't want to walk up to the final discussion with it being well known it's our only option!