Just to clafiry with the CB holders - they wouldn't get a chance...

Just to clafiry with the CB holders - they wouldn't get a chance to convert at 8c - Anthony said around the 23c mark - and for them to do that GXY had to give them favourable terms ( I didn't really understand this point and 15 hands were up asking all different questions by the time this point was made). The bottom line is that the CB holders would sacrifice the put option on interest payments in November for a chunk of the company.

Another point with SdV is if the Koreans do go ahead - they are committed to 70% of the capex and have to guarantee the last 30% at favourable terms to GXY.

If they don't go ahead GXY is looking for another partner to take up to 40% of SdV - for a price which would go straight to paying off debt.

As for the question of how long to realise a return on investment - my hope is that the 'new' board can deliver on sorting out the debt problem - and getting Jiangsu up to nameplate whilst reducing other costs. If that happens - then surely we are a t/o target - and it won't need to be at 30c for the average investor to recoup losses if they have taken up the 8c rights with the free options. All pure speculation on my part - but I think we'd be t/o before SdV is up and running. Especially if the lithium market takes off in the next 24 months. We need a Chinese Tesla!!