"I don't know why they agreed to forfeit the backup funding...

"I don't know why they agreed to forfeit the backup funding (again it would have been agreed between parties not just pulled)"

Good Morning Dan,

I couldn't see where the ASX announcement stated that WKT had the right to agree to funding being forfeited, It does clearly state the investor, BMCG will not be obligated to provide funding under the commitment after the first anniversary. Are you able to provide the source of where it states WKT agreed?





You also failed to answer my question on the benefits WKT will gain from allowing the backup funds to be forfeited?

I did enjoy your happy story about investors buying up shares, yet we only had $500 traded on Friday with the sell side significantly increasing at 12 cents. if this were good news as you claim, the SP would have increased. Investors hate the unknown, you are guessing WKT agreed to forfeit the additional US$9.3mil. I have a different view that BMCG elected to act on their rights by canceling the funds, I cannot see management agreeing to the cancellation as the second ASX announcement stating the benefit to shareholders and the company.



Considering WKT has not completed the construction of the graphite mine, successfully commissioned the plant, achieved nameplate production/recovery or had one kg of its commercial production validated by its potential customers, it's a mighty brave scenario that you claim the directors agreed for the backup funding to be forfeited when they have previously stated the risk of the funding from Gemcorp and BMCG might not being sufficient during the ramp-up period until it generates a positive cashflow.