Funding, page-58

Too right Ling - from the announcement of the S2 approvals until now you can see from the sp and its lack of market interest shows that this is nothing to get excited about.

Agy couldn't get funded at 10k tpa so they dropped down to 2k tpa - then now JZ comes out saying Mitsubishi wants to fund bigger operations like a 10k tpa, instead of small scale 2k tpa.

If this isn't an epic failure on Agy management part I don't know what is.

And the rusted on supporters here still sing praises for Agy management in a cult like manner.

I have previously given the possible scenario of cap raise for the required AUD$25mil capex.

With the weaker sp now the number of shares required to be issued and diluted will go even higher.

Best case now looks like a 8 cents cap raise for 315 milllion shares issue.

After that, its 24 months from now to see the first $1 of positive cashflow IMO