Ann: Finance News Network Investor Series Presentation, page-40

Hi Kramer,

I’d say they’re different this time round, our Chinese investor is on our board and they own 23% of the company through a subsidiary.

Management have performance rights vesting on a minimum 50% binding offtake which should lead to funding.

There is also enough cash now for a sample plant, 50 mil options at 10c due mid July for another $5mil, and 70mil or so which have just got issued due a year away at 11c for another $7mil.

It’s unlikely there would be another cap raise if they are in the money. As we should have a busy 1st quarter, I think they should be.

Good luck and dyor
D7