Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-5

I believe COB's goal is to have funding locked in by that point, so hopefully, no further cap raises will be required. As outlined in the report, there will also be some grant payments along the way to help fast-track some of the works.

"The grant totals $15m and is payable over time – instalments are to be made between December 2022 and March 2025. During the quarter, COB received the initial grant instalment of $1.5m."

"During the quarter COB was notified by the NSW Government, that it was successful with its application for a grant under Stream 1 of the NSW Government's Critical Minerals and High-Tech Metals Activation Fund (Fund). The Fund is designed to drive investment into the critical minerals and high-tech metals sectors. The grant is for up to $0.5m and is subject to execution of a funding deed (yet to be received)."

Hopefully, everything is progressing well with the partner discussions, so it doesn't drag on for too long. It feels like some short-term holders are getting impatient. GLTAH