Ann: DEL Enters Landmark Collaboration Agreement with Brickworks, page-83

Fingers crossed that preliminary finance is secured by the end of this year. Otherwise I wouldn't be surprised if there is a substantial delay of the pipeline and/or funding via shareholder dilution. However, the appetite on the last cap raise from retail shareholders was not ideal. There could be further pain in 2022 but I still see some light in 2023 if the looming financing cliff/crunch can be solved. Current government grants would not stump up enough for required capex so a bailout there is highly unlikely. Private funding may be predatory at current valuations and low margins of the business.

I would rather miss some of the run up then punt on the current management in the current macroeconomic uncertainties.