Ann: Investor Presentation, page-11

Trying to reward the patient holders with a share price reflecting performance and potential?

No cap raise for stage 2, but what if stage 3 was closer than we think?
AFR story suggests
"The world is heading for a lithium bottleneck because even though there are enough reserves of the resource available, producers say it can't get into the battery supply chain in time for the anticipated uptick in electric vehicles."
Coming hard on the heels of their comments about how keen TTC are, and also seeing AAL progressing their drill out at Cauchari, nothing would surprise me.
Oh, and if it was a CR for a stage 3 - it would be a very modest sum - barely a blip on the share float