Completely agree with you seals thats getting into production...

Completely agree with you seals thats getting into production earlier is better however i think cliff was referring more to the financing.

If UCL are finalising financing now before all the approvals are gained (eg environmental) and the final design is approved then logically there is greater risk for a financier and therefore equity will have to be at a greater discount and/or debt at higher interest rates.

If however we can begin discussions now and then keep these going when the key milestones are being met you might find people are more willing to invest as it is more or a 'sure thing' and therefore us shareholders will be better off with less dilution.

Cliff's background is in this exact area and therefore i think he should know what he is talking about