Ann: Share Issue to Pioneer Resource Partners and Market Update, page-45

Whoops got that wrong, so to correct my previous post the funds from Pioneer were fully drawn down at the beginning of 2023 so no cash injection of $1m. The undrawn facility is not Pioneer but relates to an available loan facility from a director for $3m, so likely cash position at year end before SPP is circa $1.7m, so the SPP needs support to keep things on track and allow the critical Alpha test work to prove up what gives all appearances of being a significantly valuable asset. The receipt of the product certification by Technix that cannot be too far away should well encourage a strategic investor to come on board.

Following my earlier comments on any potential negligent advice, maybe there should be some focus on how a so called floor price is not really a floor price.

The situation is not flash but certainly far from terminal. Good to have the backstop $3m loan and this situation could turn around pretty quickly especially if Pioneer were to be moved on. At a market cap of just $22m, the SPP at 5 c is IMO worth supporting.