stuck, page-17

Nice one Tom, but I think they are a lot further down the track that looking for prospective lenders. I think there are 3 in the mix (including GRESS) and the last announcement suggested one is very close to signing a deal and as such we could hear about that soon. Indeed that one has completed a site visit and met with govt officials so they really are at the pointy end.

But the political developments remain a real threat in my mind as the potential investors seek approval from their own decision makers. In reviewing a list of potential projects it would be easy to put forward a 'wait and see' recommendation for anything in the Ukraine in light of the ongoing conflict, even at the risk of losing the project. Its an easier position to defend than, 'lets take the chance and go now'.

Fingers crossed we hear something very soon.