reading this document a few times now, I think this is the best thing to come to mind (in spite of the 7.5% royalty bit)...
if we have been a 2 pence company for so long, we cannot expect to rock up to CBA or WBC and expect them to finance us as normal customers... the fact the Magna is ready to take a punt on us, means more to me than CBA setting aside a few millions of $ for us... these guys always want to protect their money and I am sure they must have seen not only protection of their investment but a great windfall from it...
I think the market will like this ann and the next 12 months will see a lot of THs and price sensitive ann as the key steps are fulfilled...
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Ann: A$5M Loan Fully Funds Phase Two Wet Plant & Production, page-15
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