Ann: Sale of 70% of Mozambique graphite assets for A$17m cash, page-33

I think the biggest concern we have is that we only have 17 million dollars of capital, and we have to fund 30% of a circa 100 million dollar plant. We do not have the money to divest in other investments, if we can’t raise the capital to fund the project. This could therefore lead to further dilution. I think our strategy of building a pilot plant would have been the best option where we could have possibly funded through a share sale when the market cap was around 3 to 4 cents a share. The share price is likely to rise but a return on an investment is very unlikely with this company unless people have bought recently.