Ann: Bankable Feasibility Study Activity Slowed, page-420

Agree that their will be a capital raise, 5cents im not so sure, in the resolution that is put forward in the AGM it states 75% of the average vwap over a certain period of time, so if our bottom is approx 10cents maybe a raise at 7.5 with free options. there may be a portion of the raise set out to retail or remaining shareholders but the share price usually drops to the capital raise price anyway. so i have sold half my holding ready to top up if this happens.

The PFS had 10MT on existing infastructure on road and rail with a capex of approx 1.4 bill in 2017 in todays money thats probably 2 bill, i think they may go for a 5MT - 7MT option and it may stay at 1.4bill, which when the market turns and capital markets are more confident i think this will again take off. IMO

lets not forget those stats were done in 2017 and they had nealy 900million in profit at just over $60 iron ore price.