Ann: Response to Appendix 5B Query, page-8

Yes @chiangrai and looks like it will be more. As pointed out in the reply to the ASX we will need to raise money and I suspect it will be a mix as mentioned. Maybe debt for the balance of ZG and equity for working capital. There is a lot going on and we will need to fund it all which is a good thing because it is growing the business and it’s capabilities. As for Bunyu funding I believe this will take a while longer as I have a feeling that as the world has moved away from a reliance on China (binding off takes in our case) towards more Western partners who are transparent, well known and will honour the “bind” THEN Bunyu funding is a given!! But this transfer will take time and I suspect the ZG team are assisting in this transition by discussing with their customers.
ie would the bank lend you money to buy a $2m house if the guarantor was a twice removed uncle living in Bangkok?? Get the issue I believe we have!!! Bunyu funding is not reliant on what happens in US/EU it’s all about security of payments for the Offtakes. “It won’t happen overnight but it will happen” as the ex-Mrs Stewart once said!!