Ann: Rights Issue Prospectus , page-4

I suppose they could extend the dates if the minimum is not subscribed? I spoke to them yesterday and they seemed not so desperate for cash. Sales are producing more than costs, but only because of the cost cutting and the plant feeding on the stockpile. I expect the stockpile should last another 4-8mths depending on production. Cash flow positive status is expected when production and sales reach capacity. Hopefully that will be soon. (ROC's March quarterly reported increased sales and revenue from lithium. With more Li battery plants starting up and with EV sales increasing, the demand for Li2CO3 should continue.) They also said they are negotiating the sale of a non-key asset to repay debt. I got the impression this is something significant and could clear a lot of debt. Perhaps they want this done and announced before trading recommences? I asked them what are considered non-key assets and they said anything except the Jiangsu plant. So I guess if they sold all the non-key assets that should easily repay all the debt (even if they were sold at half the book value) leaving an operating Li2CO3 plant worth $150m. IMHO, although the plane is barely running on half an engine, it is not plowing into the ground yet and things could improve if sales increase and dept is repaid from asset sales. So hitting the ejector button when trading resumes may not be optimal. Takeover is still possible. I still believe this will happen. IMO China still wants the plant and they can only get it by buying all the shares. If they do that at 8c (assuming all rights are subscribed) they will be getting the plant for about $40-80m (depending on what the others assets are sold for or valued at).