CEO presentation - one of the best I have seen., page-30

Yeah, very interesting when he mentioned about the US$25bn if we go it alone and take up 50% of the market share.

After hearing what Wayne said in the presentation, it now appears less likely we will have a partnership deal. He mentioned he had a recent meeting back in November with one of the majors to discuss the potential deal which kinda values the company at around ~$200m and he did not agree with it. That could well be the reason why we now have a funding package with Mercer in place.

From funding perspective, we still have the option to have a licensing deal on ADAPT as he mentioned. The beauty of the funding package with Mercer allows us to raise funds with shares placement capped at the total number of shares traded in the preceding 10 trading days. Which will limit the dilution effect and is likely at much higher price as we progress to the next regulatory clearance milestones.

Q4 this year could be the time serious biddings from the majors are forthcoming. In respect to the price, who knows? It could be, $500m, $1bn or much more…

End of the day, shareholders will decide whether we will be bought out by the major or continue to go it alone.

DYOR