Ann: Exploration and Company Strategy Update, page-4

I'm reading the Ann as meaning that s32 has agreed to sign on 'in principle' and now finalizing terms ie. monetary amount of contribution. for me that's certainly a tick! my thoughts on an acquisition are that it is unlikely we have enough funds to pay for a tenement, whether that be cobalt, nickel etc. company may use its share facility and offer shares for an acquisition..... a further CR will likely kill any momentum and cause further dilution... the company has some 260mil shares to put towards payment of an acquisition.... keen on shareholders thoughts