Ann: Notice of General Meeting/Proxy Form , page-10

I don't think CR is necessary in the short term, although given the nature of the facility in place, shares will continue to be issued. Long term (ie 6 months plus), funding at this stage is still an issue. There is not much to be gained from consolidation from a shareholder perspective prior to new sales contracts being executed, potentially the only outcome is that the SP could be driven lower. I am hoping that they are very close to getting a contract up and that they expect to announce it prior to the meeting, has now been 3 months since the MOU with the nickel plant so they should be well and truly into the design phase. Feeling de ja vu from 12 months ago here, albeit a little more optimistic than I was this time last year.