Found it...you might be right...given ARW cash levels and the...

Found it...you might be right...given ARW cash levels and the tightness in credit markets, it might be more difficult to raise capital. I am expecting a positive announcement though...


Advance the Term Sheet with a prominent West Australian resource company that outlines the supply of a minimum quantity of 5m Iitres of biodiesel pa with a target volume of 7.5m litres pa for a continuous period of 5 years into a viable commercial contract. In a release to the ASX on Friday 18 April 2008 ARF informed the market that in the Term Sheet the parties agreed to construct blending infrastructure to be situated at the customer's mine site for storage of ARF supplied biodiesel. These obligations are subject to ARF procuring funding for the blending infrastructure for an amount of up to $1.5m (with capacity to draw down any further amounts required for the purposes of construction), or if ARF is unable to obtain funding on
satisfactory terms by 30 June 2008, on the customer procuring such funding by the end of August 2008. If ARF procures the funding for the blending project, it will be entitled to recoup all its outlays for the tank infrastructure from the customer during the term of the contract. Either party may terminate the Term Sheet if the funding is not obtained on satisfactory terms.