One thing to remember is the terms of the Convertible Note which...

One thing to remember is the terms of the Convertible Note which includes

.Loan is Unsecured

•Prior to conversion, the Convertible Note will rank equally with all other unsecured and unsubordinated debt obligations of Syrah

. At any time after 30 months from issue and prior to the maturity date, AustralianSuper may elect to fully convert the ConvertibleNote into fully paid ordinary shares of Syrah, at the Conversion Price•AustralianSupermay also elect to convert the Convertible Note in circumstances where a thirdparty makes a takeover offer forall the shares of the Company,the Company announces theexecution of a scheme implementation agreement in respect of all the shares ofthe Company or an event of defaultoccurs, which includescustomary events includingrelating to failure to pay amounts due, insolvency events, material breach ofwarranty, etc

Remember also that the BAM project needs to be financed so my thoughts continue to be a Joint Venture with USA based company will eventuate .