Ann: Tawana & Alliance to Merge and Capital Raising & SIA, page-256

I don't see the CR as needing the $50 million to keep us going, I see it as the $50 million will be used strategically to value add to our current resources & mine or a whole new resource or plant. I don't like the CR being done at these levels but I do believe that management has their reasons and think they can use that money now and gain more value from it now then waiting for the SP to rise and do it at those levels. How long will it take to gain those sorts of profits with a plant running at double the capacity? A couple of quarters maybe so I think that may be there logic.

The whole "we pay their wages but will put their self interests ahead of ours and 99 out 100 times" is a bit rough in TAWs case. I see it as they pay their wages with the money that they have (will) raked in for being so bloody good at their job that they build a successfully producing mine in under a year from start to finish and that they have served our interests by having us come along for the ride, but maybe I'm just a glass half full kind of guy. If I didn't think that to a degree I would not own shares in the company.

Yes I would have liked to see the CR done a bit further down the track when the share price re-rates but who is to know how these things are worked out. SYA had the dumbest CR ever at 1c and the thing took off 1200% in a few months, strange how these things work out. Sometimes having new people on the register creates a bit more awareness, who knows. If MC has done all of this with bugger all cash, imagine what he can do with an extra $50 million and an income stream. I for one am pretty excited to see where this all goes. Interesting to see what spinco will be worth in a year or two, with a return of the positive sentiment to the lithium game and the industry confidence that MC has gained through his achievements here it is not unimaginable that it could reach TAWs current value in a couple of years, here's hoping anyway.

Some see that MC could have negotiated harder on the merger deal, but maybe he let a few % go in order to keep spinco (cowan etc.) in our hands, maybe that will be the real masterstroke here.