Ann: Corporate Restructure and Dual Listing , page-28

i struggle to see how GBE will make it

belately, running over the last investor presentation, it has forecast opex of $113m per annum. i never saw that before. plus did i read somewhere an annual capex of $9m?

then there is the tantalum price. i did read somewhere a long term forecast of $143/kg, which is nearly 50% lower than current prices, from which GBE expect to receive $43m in revenue credits

then there is the capital raising. the PDN deal in Malawi, with the govt, had a requirement of 20% equity funding and 15% project share to govt

so that is possibly at least $40m that needs to be raised on the TSX, which could be another 160m to 200m shares

who knows?

anyway, good luck