You guys need to read the announcements. It clearly states they...

You guys need to read the announcements.

It clearly states they needed to get regulatory approval first, and then documentation would proceed quickly. I always believed the timing looked rather tight when it was initially announced, not surprised at all at the delays.

IMHO the documentation is pretty much ready for execution - ie all the key points of discussion have been agreed to. It just awaiting final sign-off from ASX and Canadian regulators. I am sure its now down to new / revised wording that would be requested/provided by the said regulators.

Once this is done they'll most likely finalise the documentation and proceed to execution.

If you re-look at the timetable they did leave themselves with a few weeks of spill-over in order the meet the 30th of June deadline.

An indicative timetable is set out below:

• • execution of binding agreements - 21 April 2023
• • Notice of Meeting (NOM) sent to ASX for review - 28 April 2023
• • despatch of NOM - 12 May 2023
• • shareholder meeting date - 16 June 2023
• • fully operational Facility (including date of first drawdown of US$10m) - 30 June 2023

My 2cents worth on timing is as follows:

• Execution can happen at any time between now and dispatch of Notice of Meeting as per timeline - 12/05/23
• NOM sent to ASX - I reckon this has already been circulated to them.
• Despatch of NOM - 12/05 - We are still on time with this, the NOM could easily be issued on day of execution - I believe this has already been sent to the ASX - as this goes hand in hand with regulator approval.
• Shareholding meeting needs 28 days notice, assuming it issued on the 12/05 - then next available could still be on the 9th of June - there is a weeks grace here, I reckon the 16/06/23 is scheduled date, everyone can be present.