Seller, page-21

Yea Burgen is an issue. Unfortunately it’s almost like a last resort for funding. Incidentally, I still find it surprising they can’t raise the relatively small amount of $ required unless it’s flawed. Or, indeed there is even more money needed.

BUt seriously, I completely disagree with how companies report of their ‘deal’ with Bergen. (I bought shareable in HAV around 18c after the Bergen deal where they supposedly ‘bought in’ at 33c). Bergen are being issued shares upfront equal to the probably cost of funding (but they are happy to report it is interest free). This deal is dilutionary and if it doesn’t take off, Bergen will quickly dump their stake minimising losses.

Again, the question which needs to be asked is ‘what are the limitations and lack of interest in the plant?’

If it is compelling, they would have been lining up at the door over the past 10 years wanting a piece of the action. Yet those companies that did initially get involved quickly lost interest after looking under the bonnet. Real concerns here, however I hope I’m wrong for loyal investors’ sake as well at MT who has obviously dedicated a lot of his life to this.