Ann: Corporate Presentation, page-15

Seems to me that they are still hastening slowly on this project. The key thing to do is a 3D seismic evaluation to sure up the 2P assessment of the coal resource's gas PJ's and prove it can reliably produce gas for electricity at pilot project scale before going ahead with a major power and Urea production facility and that needs a cash injection to achieve that. So this capital raising despite the impact on the share price is not a bad thing IMHO.