Ann: Acquisition of NSW Cobalt Nickel Project, page-31

RIR are offering 3 for 4 entitlement

if existing shareholders take up their entitlement, they basically maintain their % ownership of RIR

existing shares plus entitlement shares equals 1,291,373,559

acquisition shares plus placmement shares = 1,450,000,000

the loss of % ownership via dilution is negligible for existing shareholders if they take up their entitlement

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there is no point blaming RIR for the speculators pushing the share price to 1.8 cents, which made this a $13M shell