Ann: Half Yearly Report and Accounts, page-112

And to give management credit, they have only raised funds once since IPO and that was at 3x the IPO price to a commercial partner, so I don't see why such a situation couldn't play out again.

To be clear low key..

That wasn’t current management. And hazer was trading around the 60c mark when MiN res took on the raise.

In terms of competition, right now there is no competition. Hazer is the greenest and cheapest way of making hydrogen.

When other forms emerge and start to become viable, the market is going to reduce to a choice. Just like tv right now, as an example.

We used to watch free to air. Not any more, now we watch Netflix, or Stan. Etc.. it didn’t just appear. But gained popularity as it was more viable with the nbn and cheaper internet. Electrolysers are going to be the same for hydrogen as far as I can see.

Unless hazer has a market share with proven tech sooner and a need developed for its graphite.etc. Or royalty agreements that will guarantee income.

If this doesn’t happen then this COULD, not saying it will.. COULD fall by the wayside. But going it alone as Geoff told me he wanted to, to me is suicide.

So I wait and watch.

The other factor is Pocock, and is probably more of a threat than anything else. He has the funds and shares and options to bury the share price for years. If hazer want to generate interest in their share price. They need to find someone to buy him out.

It doesn’t take a genius to watch the sp accumulate to 24.5 and drop back to 23 to know someone wants out, or is holding it there. 6mil shares at 100000 a day ( again being generous) is a long wait.

GLTAH.