I've been screaming for an update on business activities more...

I've been screaming for an update on business activities more specifically the Pilot Phase 1 and hopefully its a "successfully completed" announcement with a ramp up to Phase 2 but we got a funding relationship update instead. The announcement is basically asking for shareholders to "trust the process" or "keep the faith" things are progressing but we can't give you any real detail.

As expected no details because how could you when Pilot Phase 1 is in progress and we have no permits in place either. A real question that I have and it really is the elephant in the room to some degree is with the current $5 million spend per month and the SP depressed at these levels Mr Market knows SW needs cash so who in their right mind buys this up from here, no body.

Funding for 2023 becomes critical when you are spending your market cap in "studies and costs associated with that". How are you going to do this SW without heavily diluting this company, even at this early stage shareholders could be looking at 600 million plus shares on issue, with $1.2 Billion AUD capex still to come? Dreaming now if you think the SP is heading above 30c prior to SW rattling the tins in December this year, and how embarrassing if he does go to retail again, wow that would be a new low.

Its going to take something very shrewd by SW to save a few hundred million shares being dumped onto the register, the major shareholders won't like this one bit either as their heavily weighted positions devalue significantly.

BTW we didn't get the Vinfast MOU because the company didn't feel it was material / needed to be announced and not obligated to announce it under ASX rules. So we fast forward a few weeks and we get this announcement, even the biggest supporter of management would be scratching their heads thinking a Vinfast MOU (highlighting a major potential partner / brand) would trump this nonsense funding "market sensitive" announcement which tells us nothing.