Ann: Private Share Placement, page-65

Agree completely. Don’t forget that Daelim have been basically completing the BFS (>$20M) in lieu of receiving payment at some point … whilst holding a $15M equity stake that’s now worth maybe $6M.

CNE also haven’t sold a single share.
Both have board seats.

The signs are there, that those currently involved behind the scenes are still confident. I know that Justyn is working hard to get result.

But you cannot deny that some of the pain could very well have been avoided, and has been self inflicted.

I do also concede that the company has, albeit on a questionable schedule, kicked all the goals they’ve set out to do …. Some which were quite phenomenal (the PPL for starters).

I’m optimistic, but I know there will be more pain for the SP the longer this drags out.

The good news is, expecting preFID funding and more, is that we should have a few very active months of news re BFS etc.

That’ll be a much welcomed change.


Cheyne