Index issues, page-30

If it is taken over, Aust. Super would be interested in getting all it's capital back that they have put into syrah plus some interest return.

If the convertible note has a strike price of $1.00 or thereabouts, they will want at least above that figure if a takeover occurs.

So if it comes in the next 6 to 9 months, don't sell out too early. The board and Aust. Super would be trying to push the price as high as possible.

With what has happened with China and Covid 19 virus, better believe it that USA, EU and Asia (ex. China) will be wanting to diversity their supply of key supplies out of China.

Syrah would be the perfect mine to buy to meet this purpose for someone or a group of players.

In a perverse way, this virus may help the shareholders over the medium term: 1) by seeing an increase in price per tonne when production resumes; and 2) given its key long term asset (mine life) it may just be in the sights on a few players to take it over.