Ann: Quarterly Activities Report, page-92

My view fwiw is that it hasn’t taken up its proper value as the debt part hasn’t gone through full analysis and acceptance by EXIM. It has done the first step but there are 3 minor issues to redo. I think this may have been different if it wasn’t in the Arctic Circle (some value would have been earned).

Then there is the equity part, imv I think the first stage with LNS is well on its way. As I stated above the infill requested by EXIM should be done by them. It would also give them logistical advantage when it came to set up and operations.

All in all by the year end (Q4) I expect the debt equity issue to be solved. Now the true value at that point imv would be between 60c and $1. The top end being based on excitement factor. Low end based on market doldrums. I think the true value would be 80c ish based on shares issued and a bit of excitement.