agm postponed till 29th of nov , page-70

Well first off parent company guarantee / performance bonds isn't an issue.. That will be included in your tender cost; its basically an insurance ; so cross that one out.

Grant instalments in arrears .... That's not a problem and its fairly common practice..... That's generally why contractors try and front load their cash flows for progress claims etc....... The client ( in this cash government funding) very very rarely pays up from.

Anyway; the project is envisaged to be $70 or so;unfortunately ESI are not going to get the entire project paid out of the ALDP.

If we get $20m then the other $50m comes from consortium members; the initial $20m spent first isn't necessarily 100% ALDP $20m .... They can churn it up as they choose.....stick it at the back and claim it early by just write it up as being spent early in the project.... In that case it would practically all be in your bank before you even needed it