re: Ann: Phillips River Process Flowsheet Del... Fair assessment...

re: Ann: Phillips River Process Flowsheet Del... Fair assessment Tim.

Everything you need to know about costings and cash flows will be in the DFS due later this month.

Share Purchase Plans can have a capping effect on the share price for a while particularly when market sentiment is already low and it is a thinly traded stock. The small size of the fundraising means it effects on SP will be ultimately limited and it will come good when the true value of the stock is recognised. However it looks like potential investors are hard to convince on this Company.

Lots of pros and cons for the different ways of raising capital but this fundraising was only to provide some bridging funds for continued operations prior to initiating the major project fundraising.

The inequity of this SPP favouring smaller holders is pretty minimal compared to the inequity of some larger favourable placements to larger shareholders or new major investors. In some cases these can be held in escrow for a period or even in some circumstances issued at a premium initially and sometimes with some back ended benefits attached.