General Discussions, page-9979

Good morning Triage.

To be honest I did share your thinking about the timing of the raise.

My colleague spoke with DC a good 20mins on the day of the announcement.

DC explained that the Cap raise now allows us to move forward faster.Better bank balance gives us better negotiation for offtakes which will deliver better outcome for shareholders.

We can do feed, detailed design now and move forward faster.

He was pretty clear that whilst the PEPR application was moving forward and making all the right sounds, it was still completely out of our control. And it makes sense to control what we can control. And not sit around waiting.

This was a very prudent move and clearly in the best interest of shareholders as the recent global meltdown has shown.

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