Ann: Agreement to develop new Expandable Graphite facility, page-9

So if I have this right, Graphite Investment Partners (GIP) has a binding arrangement to obtain non-dilutive funding for at least 50% of the capital cost of the European facility.

In addition to this, GIP has provided IG6 a non-binding letter of interest to obtain $10m in funding for IG6's share of the European facility (~A$4.5m) and the Collie Micronising facility (~A$5.5m).

The Collie facility has grants covering ~A$5m plus IG6 has cash at bank (including the Comet loan repayment). The total cost for the Collie facility is A$8m ($6.3m for stage 1 and $1.7m for stage 2)