The R&D refund will have a surplus of approximately $500k as they have an LVR of 80%.
Last years surplus combined with the current R&D loan provided $2.6m of funding (paid in November 2021) so one could expect a higher amount next up with what will be spent next FY to complete phase 2.
So that should translate to around another $3m plus into the coffers before the end of this year.
Your wish to see a push on the rotary kiln will be realised as that is exactly what phase 2 with the $3.5m of our spend is focused on, and the 20ktpa of carbon to be produced will have no problem in finding a buyer.
Ann: Quarterly Activities/Appendix 4C Cash Flow Report, page-16
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