capital raising, page-8

With regards to ATC profitability -- "Margin of 10% achieved, target of 15% for CY2014/2015".

I think the large expenditures are more so because each campaign is significantly larger than the previous one, so the outgoings will always exceed the incoming when margins are at roughly 10% and your overall output is being increased, I would say.

The true figures will show with regards to the ATC plant, and market will see it more transparently, once the target overall annual output is reached - then it will indicate true outgoing costs of feedstock and running costs to incoming payments on sales based on an output of similar size, not significantly smaller, as we are currently looking at during ramp up phase.