Ann: Trading Halt, page-292

Indeed this raise is not needed, they were 10m in cash a month ago, impossible to burn through that.

Plus rthey have the atm

Why not raise after mining license and BFS? Surely as owners themselves they realise a higher share price is better?

Why not cover this paltry 50m in debt? Debt is cheap

It all suggests one thing, an institution has come knocking. It's clear in the trading halt and there is no need to mention ("comprising of a placement to institution")

This institution wanted pre-emptive holdings

Whilst it's an absolute guess, I think that is VW and I think it's at a premium or marginal discount. VW will be the largest EV manufacturer and it makes sense to be linked with the largest lithium asset along with potentially the greenest. VW announced it all minus the tie up to a miner

Am I wrong? Most certainly as this is just a fun guess as I am bored waiting for it to reopen haha

Does it matter? No, Nigel has done well and what ever his reasons, it must be a good decision in light of the information he has that we do not

Gltah