Ann: LOI for Project Funding and Off-Take for Nicanda Hill, page-131

Let me try to wrap my head around this announcement. If they are limited to 19.9% then assuming the LOI goes ahead what is the maximum amount of the funding.

Lets say that the market cap stays where it is right now - about $150 mill - 20% of that is $30 mill. Anymore and they will go over the agreed threshold.

Its an odd agreement indeed. Why agree to buy at a future share price with a floor of 50c and no ceiling? And why call it $100 mill when the market cap would have to be more than triple what it is today to allow that to happen?

Anyway typical ASX ann. I guess- more holes than Swiss cheese. Good luck to holders and traders.