Ann: Update - Proposed issue of Securities - CAI, page-4

Yes they are. As the 'value' ascribed by both parties is $0.545 it really indicates how undervalued CAI is, particularly as we have jumped hoops and overcome the significant hurdle to be fully financed.

Very good announcement today, expecting some robust buying over the next few weeks

"Calidus Managing Director, Dave Reeves said: “Construction continues to advance at a rapid rate since clearing of the processing plant area commenced at the end of February.
“The, the project is now fully permitted and continues to advance on Budget and Schedule. The critical path area, being the CIL tanks is on track, with the concrete ring beams poured and the tank fabrication due to commence in May.
“We are on track to be commissioning the plant in less than a year,

with mining set to start in the middle of this year.


“Our contract partners, GRES, Macmahon and Asset Link continue to perform well with no identified cost or schedule overruns.”