Ann: Strategic Placement and Offtake and Financing Assistance, page-13

Great post by @Captain Morgan and can’t really add much. Also great short announcement by company which is pretty self explanatory.

When your major shareholder is a billionaire and increases their shareholding upto the maximum permissible (till June 30), then what is not to like?

Problems plaguing TON were never about graphite IMO but cash, concerns that we would not go to production, might not have money to keep lights on, not get reliable offtakes, not get financing etc. All these seem to getting addressed with the backing of Shandong. I say “seem to” because this is of course early days, but we definitely seem to be progressing along nicely and on the right track, and Shandong appears to be one of the best companies to have as our major shareholder, as they appear to be a perfect fit with their building sector experience.

Only issue is that new placement is at 4.8 as compared to our high of around 9.5 on relisting and several higher amounts along with the way, and I hope that management can contain dilution a bit going forward.

On the positive side, of course, this has been at a good premium to recent lows whereas 99% placements go at much lower prices. So things are good from that front, and Shandong also seems to be keen to protect the worth of their initial investment. With Shandong's backing, TON could really go places.

I’m also extremely pleased to see Nicanda/batteries/ proximity to Syrah etc mentioned. This was one of my major criticisms and I hope they continue to sell these facts as they have done in this announcement.

Good announcement and very nicely worded overall. Hope we continue on the current track.
Cheers