Spoke to Adam Giles today . My words, not his.Monash as some may...

Spoke to Adam Giles today . My words, not his.

Monash as some may be aware are specifically suited to obtaining finance for a pioneering tech that coldry is . Most funds and financial institutions are not set up to cater for the risk tolerance involved pre demonstration plant. The Chinese and many others are very keen to step up after the 70 million dollar plant is proven successful.

The six million is not delayed of its own accord but it is required to have all the future logistics and possible contingenciesi accounted for with costs and revenue. It makes sense not to put a deposit on a house until the total costs and rights to the house have been determined, foundations , termites etc etc We spoke about the symbolic nature of the 6 million at 2 cents and were both in agreeance that things will roll from there.

This is a pioneering tech and finance was always going to be complex for such a project.

Most interesting was the comment that the delays from the CSI may well have been a blessing in disguise as the gov't questioned their need for a grant with Monash on board. The delays in obtaining entire finance through Monash on their own was accepted as a good enough reason to qualify for the shortlist.for Aldp funding. Makes sense.

I pressed on the imminent etc etc Dare I say it , he believed there would be a resolution before months end. Pointy pointy end I think were his words :-) and possibly a week from today . A trading halt would be required and he obviously had to be careful about his words.

I wouldn't worry to much about the exact timeframe. I believe the 6 mil and broader picture will come to pass and soon.I found him most accommodating and gained alot of confidence from a phonecall. Sorry if typos, on phone.

Regards