Mr. John Crawley:

Initially, we spent €50,000 on the vessel in dry dock, and subsequently, we have probably spent a further €25,000 or €30,000. At this stage we are comfortable that it is in a stable condition. Everything under the waterline is fine and we are currently repairing damaged woodwork above the waterline. The funding has been put in place to bring the vessel up to standard in order that it might be used as a tourist or visitor attraction. The vessel is not at the required standard to allow it to be used for sail training. The figure I provided is approximately 12 months old but it would cost of the order of €500,000 to bring the vessel up to sail training standard.