Ann: CVL: Civmec Pursues Altura Lithium for Payment, page-60

Tell us more about the ‘$50m sitting there’ Guido? Do you know how the option is structured?

By my count they could exercise the put option and raise a maximum of $2.4m during a ‘period’ (by definition a period appears to be a month). Workings below (43m shares @ 5.6cps).

$2.4m a month isn’t going to keep the lights on, and to boot they can only keep 75% of the proceeds post the first 2 put options exercises until fee paid, how much dilution do you want?

$30m payment to debt holders due in less than 3 months. Not sure how this is a going concern?