funding approved and off-take in place, page-22

Really surprise by today. $4mil available. Can buy plant and start drilling. Major de-risking event. Noble didn't walk.

Clearly the market chose to focus on the March 31st debt of $1.5mil to OKAP. Until this announcement we'd assumed it was extended for 12months. Now we learn its due within weeks.

Best case scenario another expensive extension. Worse case scenario is hefty dilution. Followed up by Celtic in May. Then Noble warrants.

I was focusing too much on the positives and not enough on the dilution. Maybe because it seemed inevitable so I discounted it.

I think market will start to focus less on the dilution and more on the possible production dates. Strength will return to sp this week imo.