Hi everyone, I just got the following reply from James. (Hi...

Hi everyone,
I just got the following reply from James.

(Hi again James,
I did have a question that I was hoping you could assist with please. My recollection from what we discussed at the AGM was that the remaining costs to build the mine would be funded by debt. Could you comment on this please?)


Thanks [country chick] for the email(s), it was a pleasure to meet yourself and the other shareholders that communicate regularly.

It is pleasing to see shareholders take the time out to meet all of us and see how we are managing and promoting growth in your company.

As far as the remaining funding package we have 2 groups appointed for the potential debt and equity components (respectively) of the entire funding package.

The placement with J&R Optimum Energy (A$41.6M before costs) goes a long way to what we anticipated would be the equity component of the overall package, it also provides a very good incentive to potential debt providers knowing that component is complete and with a link to offtake.

As we move forward with the interested funding parties there is a number of potential packages that cover debt, equity and other instruments that could convert to equity at some point in the future.

Your board is focussed on producing a package that protects our shareholders from further dilution as much as possible but also balancing the potential uplift in value with a fully funded lithium project being delivered for production by the end of 2017.

I hope this helps

Regards

James