Ann: Share Purchase Plan, page-6

Drilling @ Kyarra is pretty exciting and would likely give us the quickest kick north if we hit something worthwhile ... but AB is the main focus and the potential company maker, with all the information we currently have on hand (obviously Kyarra and Lynas F etc are still much more speculative until we know what's there).

We need to complete the PFS..... it's our biggest immediate hurdle at this point IMO. AB needs to remain the primary focus.

CR happening now is the safest option too. I wasn't expecting a SPP to current holders, but it's a decent deal (options attached would have been nice, but I suppose the Sophs need to get something extra, to justify their investment).
If this secures completion of stage 1, then it's a win.

With no major news on AB until the PFS is completed, imagine trying to raise ST funds after initial drilling @ Kyarra, if the results there aren't spectacular. First pass drilling on any given project rarely yields amazing results.

I'd prefer not to play Russian roulette with my money like that and think it's definately better to have funding for AB's progression secured and not delayed.
It also ensures we have enough funding to have multiple drill programs secured, rather than hoping first pass drilling strikes gold (well cobalt or lithium).

An announcement on Stage 2 funding would be great some time soon.


All IMO.


Cheyne.