SPP OFFER, page-51

Have a look at this statement (Page 13):

FY24 exploration & study expenditure($35 – 40m)
• Exploration program expected to target life of mine extensions and expansion as well as resource
definition at Finniss, targeting up to 90,000m of drilling across both existing and greenfield targets
• Provincial exploration including Anningie and Barrow Creek, and Shoobridge
• Completion of several upcoming studies including a Revised Feasibility Study for BP33 and Carlton,
and assessment of a floatation circuit to improve plant recoveries

https://www.aspecthuntley.com.au/docserver/02698144.pdf?fileid=02698144&datedir=20230816&edt=MjAyMy0wOC0xOCsxNjowNzo1Mis0ODArODExMDY0K2FuZHJld3dlc3QrcmVkaXJlY3QraHR0cHM6Ly93d3cuYXNwZWN0aHVudGxleS5jb20uYXUvaW1hZ2VzaWduYWwvZXJyb3JwYWdlcy9wZGZ0aW1lb3V0Lmh0bWwraHR0cHM6Ly93d3cuYXNwZWN0aHVudGxleS5jb20uYXUvaW1hZ2VzaWduYWwvZXJyb3JwYWdlcy9wZGZkZWxheWVkLmpzcA==

So they are raising $35 to $40M, for the 2024 exploration expenditure, when we are generating lots of positive cashflow (refer to June 2023 quarterly), zero debts, and when our share price is at all time low (52 wks).

We could have easily come up with the $40M required in FY 2024, from our quarter to quarter income generation, cash balance of $127M or even borrow $40M.

But no, we have to do a CR when our share price is at all time low (52 wks).

This is how ridiculous this raising has been.

IMHO, this board has a lot of explaining to do.