Why would you say that Faberge will necessarily need further funding? My understanding is that Faberge is currently raising capital themselves, and PGL is merely instituting a rights offer to ensure they can participate in the capital raising (as well as other investments). Given the percentage of the rights offer being allocated to Faberge, and taking into account PGL's percentage holding in Faberge, do you not think the capital being raised will sustain themselves going forward? Given that PGL also has PGM holdings and their Gemfields stake, if they leverage the relationships theoretically one should be able to minimise working capital at Faberge and thus minimise its capital requirements? The IDCs injection into the PGM holdings this year will surely go a long way to providing the necessary capital to ultimately realise value in the PGM holdings. Gemfields is long on its way to being self-sustaining. Tshipi-Borwa is on track to meeting its production start. Where do the risks lie for significant funding requirements going forward? I realise that depending on the timing of when Mount Nelson and Mount Ida come on line, some funding may be required for these.
