Ann: Completion of Placement and Institutional Entitlement Offer, page-26

plough - it is likely not a total co-incidence that about a month ago Deanna Carpenter joined the Spartan Board. As you suggest, taking out the NRW overhang while tapping institutions for some cash is not your plain vanilla cap raise and Ms Carpenter is a specialist in this area. Also worth remembering that she advised Simon Lawson and Firefly during that whole Gascoyne Westgold Firefly scrap so, like Craig Jones, she came to Spartan with an already established working relationship with SL. It's actually a good sign that SL knows his strengths and knows his weaknesses and is not shy at relying on others when necessary.