Ann: $4.4M Raised in Strongly Supported Placement, page-40

Yes - fundamentally the company never looked better - agree!

It is clear to me the management of the company is not good. Look at how long it took them to ship ore from New Caledonia to Perth. Has it even arrived? I feel like this pilot plant study has been on the agenda for past year? We go months between updates. We get a few recently and they go cold and stale very quickly because they are not kicking goals in a timely fashion!

The management clearly doesn't have good operational bones. Hence why the new CEO was refreshing.

So with that said - imagine the raise we could have done with good management and these great fundamentals.We could have easily asked for 1.6c or beyond which would have made dilution 6.7% less painful. Somewhat of a joke but obviously a nice round 1.5c was acceptable and looks lazy to me. We have raised for the TECH project at 1.7c previously. Huge difference.