Ann: Response to ASX Query, page-26

Yes it is interesting. SPAC has become the preferred way to take companies public without creating your own IPO. An existing operation (Envirostream e.g.) can either merge or be acquired by the SPAC and hence become "public".
In this case could be more disposing of the asset whilst the hype exists - battery recycling "boom" - to newby shareholders in the BFAC, keeping in mind the need for shareholder approval of any and all mergers/acquisitions but in the scenario everyone wants to feel good !!.
As for the battery scheme also remember that same is funded from revenue from imports (sales) of batteries and brings with it all the big international players so another "nice" fit for BFAC.
Don't be fooled by the so-called revenue stream anticipated from the battery scheme. This will be one hard slog to collect, sort and process. Punters including the community somehow think it's all money for jam. Well it ain't today, tomorrow or for a while to come, in Australia for sure. This is why AG would look at the BFAC vehicle as a means of exiting while the games hot and the "recycling" hype is focussed, rather than when reality kicks in and the bucks are just not there when the lights go out for the day. IMO and DYOR.