Ann: Half Yearly Report and Accounts, page-45

Yes it does pose an uphill battle.

Clearly no one knows where funding is coming from, and how that would be possible.

But I don't think we would see construction (when money would be required) for the commercial 2,500tpa plant until at least 2021.

And if the demo plant was up and running by then, the share price would likely be significantly more than what it is today, making it easier to raise funds. A successful demo plant would also open the door for more future partners for the commercial plant.

And that is why I am still here. The delays have been disappointing, but is that enough of a reason to leave when things are just about to get interesting? Perhaps, but that is a risk I am taking at the moment.

The Latrobe Valley project is one initiative that gives me hope. $500m dollars to produce 2tonnes of hydrogen from coal. I know a lot of this money is being used to set up infrastructure for transportation too, but it goes to show that 30-35m is not significant in terms of the potential money being thrown around.