Ann: Trading Halt, page-264

Jay,

I hold alot of options and this will not force me to convert.

The cr raise is 3.2c, the options are 1.5c.

This cr is twice there exercise price.

The problem with visuals with lithium, is it is harder to determine grade, compared to gold for example.

They would be in hot water, if visuals caused a frenzy, and assay grade was not what was expected.

They would be on the wrong side of the asx and the s708's

They have raised to increase drill speed and size of drilling campaign.

They have pads prepared on the same line as hole one.

You would not do that if that line was bad.

They did not need to raise.

There 5m cash, excluding options covers the initial 5000m easily.

Something positive is up to wish to have plus 20m cash balance.