Ann: Results of Meeting, page-4

Not sure if that resolution not carrying is a good or bad thing.

My take is that we need access to as much coin as possible if we are going to build a plant. At our current MC we are now constrained to raising ~$12m via a traditional placement.

I think i would rather have access to another $8m on top.

Is someone going to stump up an $88m loan? Will this other mob do a placement for working capital (prior to FID) and will the fact the extra 10% got knocked back be used as an excuse? Either way if it’s to Traxy it’s still dilution.

If a rights issue is done how much can we raise via it (allowed by ASX) and how much take up will it get?

As I’ve said before I just want the next raise to be part of an overall package to build the plant. If it’s keeping the lights on / paying wages while we sort finance it’s not looking good.