Ann: Trading Halt, page-56

Many great points raised here.

The CR, as unpalatable as they predominantly are, seems to be built to get us to when we are expected to get funding.

It is a relatively small CR, and I am sure Tim was trying to minimise dilution, particularly at this low SP.

If there is a failing here, its not raising big enough when the SP was up, which would have bolstered the balance sheet and minimised the dilution....and probably eliminated the last 3 CR's. Easy for me to say....and no one has a crystal ball.

And we are a non revenue small cap.
Non revenue...so funding, partnering, CR's, divestment, equity sales, grants, finance....is what all small caps rely on.
If you do not understand and are not OK with that, then this company, and all small caps aren't for you.
Having said that, it is possible Belfast is starting to generate small revenues, maybe even enough to be 30-50% self sustaining, which obviously helps lessen the cash-burn.

Additionally the CR unlocks more of the grant funds which were matched funding, so we will see a compounding effect from this CR, with those additional funds available.

Without the funds, we simply will not have a chance at progressing.

This has been severely exacerbated by the pivot of funds, energy and focus from Makuutu to Belfast.
A huge strain on a small cap with limited resources, to change tack mid stream and pursue grow and commercialise another project.
Vey tough indeed...more money, more dilution, more shares on issue, etc...etc...

The future of the company is clearly in the recycling tech, and at these RE prices, unless Lockheed martin wants our heavies at a market premium, then Makuutu, in my opinion, needs to be divested.

For me, It is the company's past, not the company's future...

So this is the world we live in. the world of small caps.
If you believe in the story, the possibility of setting up multiple facilities in multiple jurisdictions in Europe, Asia, North America and South America, then stick around. If you cant stomach the roller coaster this is, then sometimes its better to just take the hit and bail....which I have had to do on many occasions.

But make no mistake, this is the last pivot for IXR.
The recycling tech is the way forward.
It is proven, it is producing and it is proprietary.
It has the attention of the UK government, OEM's and multiple players in the Western RE/magnet sector.

And as @jake0002 has stated, the story is real, the tech is real and the west is embracing it.

It will take time and it will take money.

But with China nationalising all RE production, IP and tech, with export bans on multiple elements, with bans on certain, heavy hitting defence contractors and an ever looming threat of supply, what choice does the west have?

Whether you stay in our out, I wish you the best of luck in this crazy market.