I agree totally with you acees and I think your interpretation...

I agree totally with you acees and I think your interpretation is spot on. The WA funding requirement can be met by the REDP grant and the REDP requirement can be met through the Investec Finance.

My problem with that is that Investec's contribution will need to be toward a fully functional plant that will be a money maker for them (it will be owned in the JV remember), therefore I am not sure they will be happy to release funds to match the REDP grant just to put up the 'pilot' 5MW plant.

Just a thought.

I like the fact the release intimates that they have spoken to the Defense Dept about offtake?

Any way back to work.