Ann: Funding Round for Green Pig Iron Project in Saudi Arabia, page-98

Yes there will be dilution, 200m shares at 7.4c
which is 20% further dilution. However …

magnum are selling a dream atm. If they secure funding, they are not only get the cash to develop the mine further and keep the lights on until it is developed, but they also de risk the Saudi project with an NPV of $1.5B USD which magnum will retain 15% which equates to roughly $225m USD or $360m AUD roughly

I’m actually pretty happy that management were able to secure a runway to profitability for us all.

from now until October I don’t expect much trading unless there’s more developments around the biochar, offtakes, ect.

if they do obtain funding in or around October, things will be very different. That is why the market is offering such a cheap MC, among other reasons.