Thanks tiptruck....a large number of investment funds have...

Thanks tiptruck.

...a large number of investment funds have mandates that they can't invest prior to a resource company having total legal ownership of an asset, I.e. the mining convention. The umbrella agreement gives us the same result but doesn't tick off the mandates, hence the funds can't participate...

So who took up the majority of that 111m cheap shares? Who are those "sophisticated investors"? Who is behind them? I guess we may never find out.

...but i haven't seen anyone discuss the sale of our subsidiary comalco for a cash purchase and distribution of funds to holders that way, thus avoiding any issues with offtakes we may sign...

I thought about this (suitor to buy Camalco, CAY delisted after money is distributed) but it is for avoiding FIRB approval, not for avoiding any issues with offtakes. I am still not sure whether by doing so can avoid needing the approval from the FIRB. Does anybody know?

Cheers.