Video: Investor Updates with Altech Chemicals MD, Iggy Tan - June, page-70

Accumul8r,
There are only two options off the table when it comes to financing this project.

1. KfW as our tier-one lender. KfW and SMS are bound together in a single package. These are twin pillars that support the project.
2. Raising the USD100m/AUD200m on the ASX, meaning over 5 billion shares. A nonsensical option.

Options for the Green Bond(s) on the ATC debt side include:

1. Being a complete replacement for Macquarie.
2. Being a partial replacement for Macquarie.

Options for the Green Bond(s) on the AAM side include:
If the AAM placement raises the full Euro63m an additional Euro25m is still required to raise the full Euro88m/USD100. This would probably be a convertible bond.
If the AAM placement is only partially successful eg. the placement raises Euro40m

1. The additional 48m could come to AAM from a green convertible bond.
2. An institution could take a direct stake at the project level as per AAM with similar terms.

Other options include:

1. Putting the AAM deal completely aside in favour of another entity taking a 49% interest in the project, that entity could be a European Car manufacturer or battery manufacturer or other partners.
2. Reducing the AAM ownership deal in favour of another entity taking a stake in the project, that entity could be a European Car manufacturer or battery manufacturer or other partners.

There have been expressions of interest from entities wanting a stake in ATC. IMO If this were to occur any offer would need to fully value the project at or close to the AAM valuation with a commensurate reduction in the percentage sell-off at the project level.
Using the ATC market cap/SP as a valuation would require a foreign takeover of ATC.