I think the company will follow the same principles for gaining...

I think the company will follow the same principles for gaining funding as stage 1, as they require no cash currently. That is, they will look at getting around 90% debt funding for stage 2 (half government funding and half society generale), then with the expectation that the remaining 10% (approx $70mill) will need to be raised by the company with a share price offer. This event will only take place AFTER other debt has been secured, otherwise they will have no chance of raising $70mill, and by which time the share price will be greatly higher then where it is currently, as the market signals will be that the project is going ahead. Much better selling share options at 40c as opposed to 25c