Lets not spin this again ah. This was a great announcement IMO...

Lets not spin this again ah. This was a great announcement IMO and probably the best funding arrangement we could have expected. USD$750k (AUD approx $1m) convertible notes at 5% interest due on maturity in 3 years time and with initial conversion rate of 2.8c and option for 2 more tranches before 31/3/20 with conversion rates of 5c and 8c. This shows how much confidence our biggest shareholder has in not only the company but also the management of the company, especially given the next 2 tranches have a much higher SP conversion rate. Despite what some ex-holders say (if you want to look at their records look at HWK for example where they ramped and proclaimed management was brilliant and look at what happened there), you dont just keep putting in millions of $$$ if you arent confident of getting a decent return and obviously Chia sees this with ASN and Bruce.

Also not sure why you say the funds are primarily for working capital. Again another mis-true as the announcement clearly says, and I know from speaking with Bruce as well, the funds are for the PFS and permitting for the plant. Personally I'm not disappointed or surprised either that the announcement doesnt say its for funding the bromine plant as you know as well as I do that no one will fund a plant until the economics are released in a PFS (which they are now starting on) so I was never expecting funding for that yet. LKE's announcement today (not a holder) also solidifies that the Lilac process for converting brine to lithium does work and it will be interesting to see what their economics are when their PFS is released soon as they should also give us an indication for what ASN's lithium economics will be like too given both companies are using the same primary process to produce lithium eluate to convert into battery grade and lithium hydroxide.

I dont comment or read HC much anymore as too much trash is posted on this site now but I'm still holding and still talk with Bruce regularly and have full confidence in both management and what they are doing, especially around getting early cashflow from a bromine operation to then help fund the lithium.