General discussion, page-543

All my figures were USD unless I explicitly said AUD so yes sales and cost price were both USD

With regards to dilution for starters there's currently 418m shares on issue (see the Appendix 2A from 10/03/2022) + another 37m between performance rights and options so we're already sitting at almost 450 after taking that into account so the dilution isn't close to 200%. Even so I agree that a ~100% dilution seems a bit crazy however its not actually that uncommon for early stage miners/explorers and I don't see many other ways that CXM can raise the capital as from my experience its very difficult for these types of companies to get significant debt financing. Obviously if they can it will significantly increase the value. Until I see evidence of that though I'm staying conservative. So assuming they need to raise 60m USD for capital expenditure, then 70% of that (the portion I believe will need to be raised via equity) is 42m USD, converted to AUD is 58.3m AUD (at 0.72 USD/AUD). At a share price of 11c that would be 530,000,000 shares. There's currently Small cap early stage miners often have very large dilutions to get up and running so it doesn't seem