Ann: Mine Extension Drilling to Commence at Kanmantoo, page-5

Hi Ebor,

I presume you are referring to the two recent ceasing to be be substantial shareholder notices. Nothing to see there.

There was no mention of any selling just dilution due to more shares being issued.

58m shares is 5% of 1,160,000,000 shares but is only 3.9% of 1,480,361,257 shares.

Owning a lesser percentage of something with way less risk which is equity funded and can fill the plant quickly and start paying dividends a couple of years sooner is a better investment. Filling the plant instead of struggling along under the burden of debt more than makes up for the dilution.

Where would we be if we were still looking for funding when SVB collapsed and sent markets into turmoil once again. Crazy stuff.

The S&P/ASX 200 Index (ASX: XJO) has had a sobering week thus far, to say the least.

And it’s only Tuesday. The ASX 200 has shed a nasty 2% so far today. Together with yesterday’s loss of 0.5% and Friday’s loss of 2.3%, the ASX 200 has now lost around 5.6% of its value over the past week or so.

Makes the board look pretty astute moving quickly when the capital was on offer.