james,This statement is not true."My investigations suggest that...

james,

This statement is not true.

"My investigations suggest that due to the GFC they could not raise the funds to finance the project"

The funds required were $2.5 million. See page 9 of this announcement.

http://asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=00918998

BFE raised just under $700,000 in June 2008 for working capital purposes as well as for the Koji State project. BFE always had a cash balance of around $2-$2.5 million during this time. there was never any reports that they could not raise the money.

Please provide the source of your investigations re: could not raise funds to finance the project"

The reason why the project was terminated was because certain conditions of the acquisition were not met by the vendor.

http://asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=00918998

:)
Nic