General comments/chat, page-15870

G'day Rhino
From my notes, the questions asked of JM following the meeting (and his answers) were....

Where is the water for the processing plant at GW coming from?
SA Water is providing from the Pt Lincoln - Poochera - Streaky Bay pipeline. I gather this involves upgrading the pipeline in some manner and I thought James said it will also provide extra water for the broader community. He also said this is the #1 question that comes from locals. Cost to the project is $4m and was included in the updated PFS.

How does your Board understand this project?
What happens to the company if you expire?
James explained that he goes to great lengths to explain to management what is happening and why. He said that the Chairman is CONTINUALLY (this is good) asking questions. The board has mining industry experience. They now have many more staff - all specialising in their own areas. The 3 project geologists probably know as much about h-k at this point as any other exploration geos in the country. Also use independent consultants and specialists ie it's not all about JM.

How will you respond to a 50 cent takeover attempt?
Said this would therefore be a hostile takeover and that the Chairman has had experience dealing with just that in a previous company. It' something they're very aware of and JM said that having worked in the past with just the companies who might attempt it he knows what deep pockets they have. However, he didn't feel it was likely until the project was derisked and this means the granting of state govt. approvals and the completion of the DFS. by which time "we will be in a much stronger position by then". He also emphasised Taylor Collinson has been brought in as corporate advisors with this situation partly in mind. Similarly they want insto investment to provide a more stable share register and to give us a "defensive position"

How fragile are the nanotubes while being processed?
GW nanos are extraordinarily hard, but w/o being brittle. He said his was wondering himself how they might survive the processing but said they come out as good as they went in.

The lease application timeline sounds ambitious, is it realistic?
JM said the timeline they are working to is that of the Mines Dept with whom they are in contact with every day. Ranford (Director and overseeing this) has been through this process before in SA (Strathalbyn - Adelaide Hills). Has been checked by consultants. JM currently reviewing the finished document (inches thick) right now. will be lodged next week.

Finance for GW - Debt or Cap Raise?
Didn't get a straight answer here because as James explained a lot depends on the DFS. Elsewhere in the talk he emphasised that they have numerous models to use with the DFS/BFS ie how much do we sell to whom and at what price? I very much gained the impression that going straight to a wet processing plant is what they're aiming for. Said that TaylorC will advise also. Made the point that CAPEX is a fraction of current market cap which makes it easier.

Once again, just my interpretation to initiate discussion and your own research.