Ann: $18 million Capital Raising, page-16

I was a bit greedy with my bid, including the options, I almost doubled my holding, so I wasn't too concerned with the 28% scale back. I was grateful that the broker was able to grab a few for the punters.

I'm not sure if anyone else tuned in to see Phil Staveley at the MST Access Australian Micro & Small Caps Conference..

• The company is very happy with their geosequestration solution, they will be announcing something on it in the coming months.
• The carbon will be stored in reductant gasifiers, there is also the potential for future revenue by storing other companies carbon.
• They could increase the reserve, but they won't because they don't want to spend the money.
• The 30 year life of the project is a minimum, it will be closer to 50+ years.
• When the company was looking to sell gas, before the urea option, there was a 6 billion dollar offtake offer, over the life of the project - ''thank god we did'' (turn down the offer).
• Currently, there is a firm offer on the table for 500,000 tonnes of urea a year.
• Daelim looking to provide 70% finance for the project. They are in no rush to source the other 30%, they will go through to FID next year, when they expect to have the share price a lot higher (obviously for potential equity stake). That aside they are also speaking with strategic partners at the moment - which also gave the impression that the gap funding could potentially be filled via debt.
• By June 30, he expects the Daelim deal to happen comfortably by then.
• Construction to start for Stage 2 - January 2023.
• They are looking at having 60% of the urea tied up in an offtake/s ( % discount to spot price), and the other 40% they'll let it float.

All the best Creekers, and go Panthers!