Ann: Citronen Project and Financing Update, page-79

Hmm, not sure I would say I understand the reasoning there. The equity market is the equity market - I do not see it as been that much more challenging in 2022.

Companies are still raising tons of money here and overseas. Where there is a will there is a way i guess.

Furthermore, it is not like IBG is the one doing the equity raising. IBG is just looking for an equity partner - and that partner may not even need to RAISE any funds if their balance sheet is strong enough to pledge the requisite dollar value to the Citronen project.

IBG was never looking at raising several hundred million dollars from the capital markets - that was never the plan - so to say IBG's market cap is the obstacle to us raising capital in the equity markets? Not sure about that...