Agreed Amok, I'm always nervous of companies that improve their...

Agreed Amok,
I'm always nervous of companies that improve their opex numbers based on variables that could just as easily move against them down the line. Realistically, VML are still at least 2years from production even if they were to get financing today. And their recent press coverage suggests that Sumitomo and Mitsubishi have had a look....and we know how long those guys take to come to the party!! So who knows what the business model will look like then.
Now, if they were to suddenly drop their capex by say 20-30% then it might be worth a look, but that isn't about to happen with a green field site.
I prefer to see companies sit with one set of numbers and if and when they get into production, surprise on the upside re cash flow.