Here is a project update as of early May 2018.
See the attachment for all our news including the latest energy study results, capital raise status and some trends in NZ tourism growth.
Even while the capital raise is ongoing, we are progressing with an architecture design competition and further energy study work.
We have commenced an energy study to assess the right mix of energy: both generation and storage to meet our desire to be sustainable and ensure good returns for investors.
We expect the report to be ready early March or so.
We are also developing plans for an architectural design competition to refine our concept further and help us to select the right partners to progress the project with.
Following the issue of the Information Memorandum in November, we requested that expressions of interest from eligible investors be lodged prior to Christmas.
We have now entered a period of negotiations with potential investors and expect this process to go on for the next couple of months.
Naturally, during this time, we would still be open to additional expressions of interest.
In the meantime, we continue to progress with the project and expect to be placing a contract for an energy design study in the next week or so.