Ann: Suspension from Quotation, page-172

Hard to judge what is going on behind the scenes

They need $50m or so in 2024 to get to production before this CR and or Equity deal etc

This TH and Suspension has occurred relatively quick after quarterly release which indicated under 2 quarters of cash remain and cash burn explosion etc

With a balance sheet like that - they were not going to attract interest and IDC would not loan when interest quarterly in arrears would need to be paid and or to pay running costs with funds - using vita construction dollars

Difficult to see production this year as construction unknowns always have to be factored in with time frames - haven't even started and we are already in March

IMO - to get this to production some of the 85% will have to be foregone - the risks are still high and imo TSP will settle further in 2024

Lets see the details of the CR is next week - the length of this suspension is not a good sign

Chuk has told us all there is no options attached in this CR -so we take his word on this from a dilution point of view


IMO