So to have this finalised, I have predicted between Friday and...

So to have this finalised, I have predicted between Friday and Mid next week given the simple tasks to complete. Naturally there will be items outstanding after the formal approval, but its a excitingly positive the way I read it.

I had a sneaky few beers on the weekend after reading the announcement, but the big one will be on the formal announcement!!!!

Fancy, will send the invites shortly!!!!!

I have provided a summary of the announcement; Please let me know if I have anything materially wrong?

1. Securing requisite written approvals…

So, this means going to lender 3 which we believe is IDC and saying funder 2 (call this funder 'X') has now given us the loan. IDC sight this document, sign and return.

After Funder 2 (X) receives signed IDC letter, they also will approve the loan. This is an automatic process. It will happen!

Funder 1 is all good to go. This has to be Noble given they are keen for our off-take.

2. Agreement on common terms sheet for the above… So, this would be done, that’s a logical conclusion, we have been waiting for the funders for months, negotiations would be complete or ready to finalise.

3. Finalisation of the rail link funding… Given the advanced stage and Papi’s background in this space, this has to be all but sealed. i.e. hand over the loan approvals from point 1 and 2 above and sign on the dotted line.

4. Directors Approval… Again, we have been around for months and years, modelling is complete, and the directors know what they want. Sign and date and done.

5. EGM… This one is exciting, as this involves us. The top three shareholders are out of the vote in my view (related parties -refer the 2015 takeover review), and this means you are shareholders have a real voice.

6. The rest of the points… standard practice when finalising a loan. Its keeping us informed.

Exciting times indeed!!!