Ann: Quarterly Activities Report and Appendix 5B - December 2021, page-132

Thanks to all for taking the time and courtesy to respond.

General consensus company using future income to fund existing work already underway... in theory sounds workable as long as no hidden or unforeseen circumstances and the BOD are comfortable with a reduced cash in bank position.

SP will need to strengthen and improve for the majority of options to be converted and is subject to market
conditions Which do not need to be a direct material change to BRK’s circumstances. Conflict in Ukraine, China relations or another Covid variant and the options will not look as appealing and the BOD will be equally aware of uncontrollable circumstances before making the decision to reduce their cash position.

I am playing the the devils advocate and appreciate the feedback but do not believe it is as straightforward as suggested in many of the replies.

Good Luck All