From a risk view the last 2 announcements have reduced risk...

From a risk view the last 2 announcements have reduced risk significantly at the cost of share dilution (as expected).

Outstanding risk:
Project delays (chance is high - based on past performance)
Plant fails to run (chance is small given previous tests run at Newcastle).
Technology fails (chance is small given previous tests run at Newcastle).

If all goes well:
Plant runs well. (chance is high given previous trials)
Technology works.(chance is high given previous trials).
Focus on spin off technologies (chance is medium due to tests)
ERMS is back on the agenda. (chance is medium due to past tests)

The down-rampers cleaned up the last month.
Lets hope the sp will be ahead in the coming months.