Ann: First Shipment of HDNG, page-19

It's the hide and seek that's the annoying part. They should like other companies, especially in the current market be, be promoting their plans of generating returns for shareholders and when they will be supplying significant quantities to market - i.e.: proposed pipeline and financing details. This should come with details of the $5.5M grant expenditure.

At this point I'd take the grant over a CR at this point (you would be issuing a future 40M shares to get an equivalent value), spend the $5.5M so you can then present your plan to market about the generation of revenue. It is at this point when the share price is a little higher that you would go for an additional CR (need to issue less shares based on a suspected higher share price) and/or seek financing partnering arrangements, etc.

They also need to provide an update on the previously advised "potential" offtake of 1TJ/Day by Denison (or if not Denison anyone else for that matter), this is the supply we need to be delivering in conjunction with plan to market for bulk supplies. I feel this is coming but as you know Rich & Doug like to take things slow.