Ann: 2018 Half Year Financial Report, page-130

"I didn’t get the converter bit at MtCattlin like you did, but I wasn’t looking for it."

It was in his response to the 3rd last question at around 48 minutes.

Paraphrasing a little...

The tolling discussions were deferred to the subsequent calendar year and Anthony said that during those discussions it has shifted from talking about tolling into deeper more direct relationship by participating in the downstream with some of the customers.

That is something which will be progressing between now and the end of the year, going into early next year.

During that same answer he had mentioned the customers recent converter expansions, so as for if Galaxy might buy into a current converter or partner to build one it's anyone's guess...

...but the answer Anthony provided indicates that we are more likely to move downstream rather than tolling and will hear about it soon.

Hey @Nightmarez3k

I don't think there would be a share buy back, but maybe a special dividend?

As @Cadel pointed out...

"By calling it a special dividend, I suppose you are telling the market not to expect one every year."

Though I'm more inclined to believe the potential for options to be issued. They cost the company nothing but offers the benefit of further cash flow down the track as the company continues to tick boxes.

If they are on marlet people can either keep them, or sell them to claim as their own dividend.

I think it is a flexible win/win solution and I'd be happy to receive them rather than $$$ whilst the company continues to focus on bringing all its assets online.

The company knows what happened earlier this year when they wanted to give more/new options to a director and they were struck down.

I think they need to/should do something to recognise the holders between now and the next AGM.

Does anyone know how an offering of options might affect the shorts and those with their shares out on borrow?

One other thing to consider is the conversion date of AT & MR's options. They are going to need a pretty penny to convert them and not knowing their own financial circumstances I do wonder how they might be able to afford to exercise them?

Anyways... Considering all of the above... Even if the market is not going our way, maybe we can sit back and think, well we know something the market doesn't appear to know and eventually they will and simply have to buy higher.

Quite remarkable that AUSBIL notice.

Wonder what happens now with the others seeing that?