Ann: Trading Halt, page-43

haha Why do people think about why people wonder why people speculate?

Really the question is whats been cooking? - clearly a raise in the mix here and lower than we would like but wording of the TH seems very different to your typical Capital Raising activity and what we have seen in the past. Will be interesting to see what comes out in the wash tomorrow.

Dont think the discount CR price is much to go by in the big scheme of things. Capital raising is always going to be challenging in the current climate and contributors want the best possible ROI for the associated risk. $2m also seems a very small component and we have seen shares issued for consultancy work recently - so good chance the till is getting dry and we are getting some buffer in place while the final stages of the PFS get ironed out.

If we see decent corporate transaction here, it could still be off to the races even though there has been a low CR price associated.

One thing that is of some concern is where the vanadium price has drifted over the last 6-12months - we will in essence be using some weaker pricing figures which to be frank isn't necessarily a bad thing if the numbers are still coming up green. Factor in the potential HPA and Ti credits and it may well surprise..