I thank the Minister for his answers so far. I want to make it quite clear that we're very supportive of Government support for companies, especially when they offer exciting and dynamic propositions. Where we do have concern is where other businesses point to support being given to companies, and they themselves are refused support. In particular, they draw attention to the last set of published accounts from TVR that clearly indicate, and I read from the accounts, that the £2 million loan has been given by the Welsh Government, and it goes on to say that the lender—that is your good self—

'has indicated that they have no intention of demanding repayment'  of this loan. I do think that does need clarifying, because it doesn't go on to say that that money would be repayable in five years' time, as the Minister has indicated, or it's on commercial terms. That statement is, from just an observational point of view, quite misleading.

It also says that the company is obliged to raise an additional £5.5 million of equity. The Minister has indicated that the Welsh Government have put £500,000-odd in as an equity stake. Could he also inform us how much of that £5.5 million of equity has been raised, separate to the £0.5 million that the Welsh Government has put in, to give us an indication of how much confidence other investors have in what, potentially, if it comes through as promised, could be an exciting development for Blaenau Gwent?