Well the contract announced on January 23rd has fallen through...

Well the contract announced on January 23rd has fallen through as NFL couldn't arrange finance. However they have entered a new tolling arrangement with a Singapore firm instead. Also glycerine refining has ceased as it's no longer profitable.

"This contract will see Natural Fuel tolling biodiesel production for an independent Singapore based financier and feedstock supplier (The Financier).

The Financier will provide the working capital funding to consolidate the inventory of feedstock and will enter into a 12�] month tolling agreement with Natural Fuel Pte Ltd to provide biodiesel to meet customers�f requirements. Initial tolling requirement is for 30,000 tonnes of biodiesel per month commencing Q2 2009 calendar year increasing to 50,000 tonnes per month by Q3 2009 calendar year."

Sounds like they've problems with lack of funds though, working capital short fall of $29.3m as at 31/12/08. Not sure how that will pan out, could be that we may be looking at further dilution and/or additional debt, both of which maintaining pressure on the shareprice.