Umbriel, I wouldn't call myself an optimist, I would have...

Umbriel, I wouldn't call myself an optimist, I would have thought I am closer to a realist.

Keeping to the facts.

The first 3 points from the June qtrly are worth noting and it seems we are in the middle of progressing these activities right now hence the recent LPD update. There has been material progress hence the need for an ASX announcement.




And our funding position has us with sufficient funds for 7 quarters (before further austerity measures).





And with regards to the latest announcement, management have made a significant tilt towards Jeffries and an October deadline for Karibib equity investment hence making the ASX announcement to inform previously engaged parties and any new prospects.





I find it helpful to highlight the potential for our market cap once the Karibib equity partner is secured. The USDFC have concluded technical due diligence and are in the process of Legal DD which will recommence after an equity partner is secured for Karibib (maybe November?) the DFC funding is circa $50m at a low interest rate and the funding will be available to cover cap ex and op ex for Karibib hence no need for further equity via a cap raise in order to get Karibib and LPD in a positive cash flow situation.

Our market cap is $17m at present, what will it be 12 months after we receive the DFC loan of circa $50m and LPD being cash flow positive with 100% ownership of our proprietory technology and the potential UAE processing plant. The big question mark is what persentage of Karibib will we own? The combined phase-1 NPV as at 30th Oct 2023 was US$457m (Karibib NPV being US$100m)

By selling "all or part of Karibib" to an equity partner, we are only selling "all or part of" one quarter of the NPV of the phase 1 project. @Bullrush007 totally missed the point of this latest ASX announcement, that latest announcement is an update and report on progress. The company has now set a deadline being October for equity partner submissions which have been sought for over a year now. @Bullrush007 jumped straight into down ramping mode, it is worth rereading the posts of @Bullrush007 on this thread and realise that poster has now lost all credibility.