CAI - General Chat, page-710

Stage 3 is a joke. Blue Spec and surrounds are refractory as anything you will see in Australia….that’s why it is still there. $34m capital cost is a straight up lie, although given all the rubbish in the presentation and other announcements, at least they are consistent.

Presentation is clearly part of a capital raising roadshow. Look to PNR if you want a clue as to the likely discount. Get out in the 20s as raising will be in single digits.