Current Equity Raising

  • The company proposes to raise A$40 million in the short term to enable it to complete the conditions precedent of the total funding offer that the company has received. These conditions precedent will also be similar pre-conditions to any other funding offer that the company may receive from other interested project funders.
  •  This AU$40 million of equity will be raised by the issue of 80,000,000 shares @ $0.50/share each. This will equate to approximately 22.50% of the company’s current issued capital.
  •  The equity will be used to complete the conditions precedent required by the potential project funder and in fact, any alternative final project financiers will have similar requirements.
  •  The investor(s) will be invited to have one seat on the company board of directors.
  •  The investor(s) will have the opportunity to subsequently increase their size of their holding subject to any offer made, being offered to all of our shareholders.