Ann: Half Yearly Report and Accounts, page-25

What i have said previously, the Govt won't help WITHOUT Binding offtakes. It has been suggested "surely the Gov can give a Grant etc." just so we can get the mine construction started. And then fortuitously the graphite pricing would've improved enough for the mine to be profitable. The $185 mil loan that is available is "conditional". I am FULLY aware of all the Fundamental's in favour of the Siviour project INCL its Major Project Status with the Gov. But the continual "this is about to take off" remarks? Well I think it is wise to be a tad more cautionary than that. We announce a binding offtake? I'll double my holdings.