Ann: Becoming a substantial holder, page-31

a complete JORC
a >$1b PFS
a strategic investment or offtake/MOU from a Boral, Puma, Viva or alike
all are in the bag I think.

Just got to wait. They cant rush the testing and they cant promote a PFS that's not finished. And if Pioneer can only subscribe in max instalments similar to the last one, March is coming around quick, they wont have the time to convert the whole ~$3m owing at ~7c shares. I guess they have 2 more low price instalment chances before March (this move and another?). At ~$500k each that would leave ~$2m to be converted after the PFS at I hope much higher prices and much less dilution. A win for us.