Notes from 2023 AGM, page-27

Hi Gvan

Thanks for you reply. This was where I was having problems so I am going to break it down to components.

Funding from state or EU. So a no strings attached, not to be repaid, grant. It would be something like the "Bill Gates Foundation" grant. I can easily accept that possibility, more so from the EU, but state in my mind refers to countries. Certainly Sweden and maybe some of the big auto producing countries could throw something into the funding bucket. That could cause problems with the opposition parties in each government if it was sizeable.

So I can accept the concept of a grant. The size of that grant for me completely unknown. how much of a dent would it put into $SU200m needed.

I question the concept of a no strings attached, non repayable grant from strategic private partners for project equity finance. In this category I mainly see battery and auto makers as being the major players, For this form of project funding I suspect that they would be looking for something out of the exchange. Maybe some form of royalties or timed discount period on product supplied. Gasping at straws for ideas of an exchange.

The Joint venture concept you opened up certainly could have legs and possibly the simplest. Funding for the processing plant, at agreed input prices for a percentage of product output is a common practice. Giving away some of the value of future mining permits and extraction in return for an immediate operating processing plant and delivery infrastructure. JV or equity raise, Hmmm


So it comes down to this. We are a company whose current market capital is $380m and we need a further $300m which is 80% of our current worth.
So we have a cup out for donations, and then have to make some form of deals for the rest without giving away too much..

I don't doubt that some strategy with details will surface and eventually will play out, with adjustments. Just speculating what it will look like at the conclusion of the process.

Cheers Lies