Ann: Prospectus, page-13

Some thoughts..,
Small cap company in the mining sector with no operating cash flow = lots of risk.
This will be far from smooth sailing, HMS Reward is entering the Drake Passage at present from my perspective.
A plausible story unfolding, it has and a director massively invested in the outcome.
Based in the best mining jurisdiction in the world.
Ticks a few sustainability boxes for some icing on the cake if it ever gets into production.
If the reward process works then this would be transformative for the company and industry and a massive rerate would follow.
If the reward process doesn’t work then all we have is a salt lake out in the middle of nowhere and we end up looking like KLL & SO4 shareholders.
Current share price holding up well and above cap raise price, hard to read though as company is very tightly held, that’s tightly held outside of M Ruane interests as well, never seems to be any significant volumes regularly traded, I’ll take that as a positive.

I’m in for this raise, but not factoring this to find my retirement!
Good luck