The way it’s set up,doesn’t matter what the SP does at these...

The way it’s set up,doesn’t matter what the SP does at these levels, it’ll get (or very close to) itsUSD40m deployed for 19.99% just due to the number of securities to be issued.

At 4c on a AUD$240mraise, fully diluted shares are 7.4B.POSCO at 1.5B.

But your point is notlost on me, why pay USD$40m for ~ 20% when you could give existing holders 10cand its only costing you USD$35m more for take the entire thing.

They’ve got my sharesat 10c….i’d be breaking even.

I suspect POSCO justwant the offtake rather than total control/ownership but at this rate, I’m notsure the greatest team in the world could raise Aud$240m for a $40m market capcompany