Ann: Market Briefing - Conference Call, page-86

You have written:
All long-lead items are either out to tender or have been ordered. Critical items can be purchased from funds already in the kitty.

If this is what was said during the conference call in my opinion it the usual creative way of selling spin.
In the quarterly report they have reported spending $129 thousand on property, plant and equipment, this is where any payments for long lead items would be reported. Any bits and bobs for the pilot plant would be there as well.
To me it doesn’t look like much was ordered. The total cost of equipment for the starter plant will be over $20 million, taking a conservative assumption that half of that will be long lead items, we get to 1% ordered and 99% out to tender.

Money in the kitty.
There was about $19.5 million left, need to pay about $4.5 bond, $15 million left, that is about 3 quarters of expenditure at current level. They can theoretically buy things using this money but they would run out before the ordered equipment arrives.

Looks like we are getting more spin.

Some people here were expecting that we would get a lot of questions answered in April. I guess May is the new April now.