Ann: USD 15 m Subscription Agreement at AUD 8.90 per share, page-114

I agree with many posters here that the cash in bank + recent USD 15mil is enough to fund and start the second metals plant. If it looks like a duck, swims like a duck, and quacks like a duck..... Dubbo is still quite some months away, so it makes sense to scale up the metals part of the business as applicable, as it basically is purchasing a second money printer. This will put ASM in a great position to fund a greater portion of Dubbo when the time comes. Note the following:

- H2 2021 DW in Europe, scoping potential sites and downstream users of products (Tehan also in Europe at this time?)
- Nov 2021 ASM in media with NSW officials for Critical Minerals Hub announcement
- March 2022 IC in USA with Dan Tehan meeting US secretary of commerce

Aus election next week, should see some confirmation of budget/projects

US has since further committed to spending for securing of critical metals (last week)

Where will the second metals plant be located: Aus, USA or Europe? I think we will find out very soon.