General Discussion Topics, page-1894

With the increasing share price over recent weeks, I thought it is worth providing this reminder:

There are 121,428,572 unlisted options from the capital raise in May 2021.
These have an exercise price of $0.50

This a potential approx $61mill in funding that is pretty much already accounted for, without having to undergo a new capital raise (and incurring the costs associated).


There are another 20,000,000 options issued to Lind Capital and SBC Global (10,000,000 each) with an exercise price of $0.40 (subject to shareholder approval).

This adds another approx $8,000,000, totalling $69,000,000AUD in potential option conversions in the near term (if the SP trajectory continues)

There are also Employee options with exercise prices of $0.50 and $0.70 that will add further to this.


Looking the recent cash flow report, we can see a current cash at bank of approx $88,000,000 and Debt liability of approx $69,000,000.


Should the option conversions eventuate, Magnis has a number options available, including using this $69M to clear the IM3NY debt (which alot of peple were unhappy with the terms) and in doing so increase their equity further in the iM3NY project, or utilise these funds towards further developing Nachu or Townsville.

Just a reminder for those concerned about cap raise or for those that just forgot.