market sentiment in specs and abu d finance, page-10

If they were not mostly owned by the German government i might be more worried "The Company is well advanced in its Project finance negotiations with the German bank KfW IPEX-Bank GmbH ('KfW') and DEG - Deutsche Investitions und Entwicklungsgesellschaft mbH ('DEG'). Both are part of KfW Bankengruppe GmbH, which is 80% owned by the German Federal Government, and 20% by the German Federal States (Bundesländer)."

Then their is the German government guarantee. http://www.gippslandltd.com/announcements/documents/ASX%20LSE%20081025%20UFK%20cover.pdf shows that the project is considered important.

"the project must be of special interest to the Federal Republic of Germany"

"it must contribute to the supply of natural resources into Germany in the form of a long term sale and off-take contract between the borrower and a German off-taker"

"the financing of the project must be assured "

"Untied loan guarantees may be granted in combination with export credit and investment guarantees."

Then factor in H.C Starck and BGR we should all really be feeling that "increased confidence" JT always manages to mention.

Robert