Ann: Scheme Booklet registered with ASIC, page-111

Danehill:
Is there anything in the whole document that positively encourages any TMT shareholder to vote yes, given that most TMT holders think the 1 for 12 bid is a very low offer.

In order the main points seem to be:

: Improved access to funding through a merged entity *
: Access to the Yarrabubba tenement


In regards funding ;
* eg : 27/06/23 https://www.afr. com/policy/energy-and-climate/regal-funds-tribeca-push-for-vanadium-minnows-to-merge-20230626-p5djku
“Regal’s analyst, Henry Renshaw, believes vanadium redox flow batteries will play a significant role in energy storage over the next decade.
A 2 megawatt, 8-megawatt hour VRFB is being built near Port Augusta, South Australia, at the Yadlamalka Energy Project, and Stephanie Unwin, CEO of Horizon Power, said last week the regional WA power utility was also looking at VRFBs.

“The [Murchison Technology Metals Project] is shaping up to be one of the best undeveloped vanadium projects globally,” Mr Renshaw said.
“We ... consider this to be quite a unique situation where two companies, Technology Metals and Australian Vanadium, each own half of the same orebody. We can see value to be created for the shareholders on both sides through logical consolidation and expect Regal would play a material role in construction funding once there is more clarity on the development pathway.”
Tribeca portfolio manager Ben Cleary said a consolidation of the ownership of the MTMP deposit was logical, “and if that were to happen, we’d look at materially increasing our position in support of the project’s development”.


Vs : where is any credible development money going to come from given no institution currently on board wats to fund TMT on its own (as per scheme booklet) and
“…TMT has a limited cash balance. TMT's capital requirements depend on numerous factors.
Any additional equity financing will dilute shareholdings, and debt financing, if available, may involve restrictions on financing and operating activities.
If TMT is unable to obtain additional financing as needed, it may be required to reduce the scope of its operations and scale back its work programmes as the case may be.
There is however no guarantee that TMT will be able to secure any additional funding or be able to secure funding on terms favourable to TMT. ..”