Close. Equity raise will be AU$35m of which RCF will subscribe...

Close. Equity raise will be AU$35m of which RCF will subscribe for US$5 (~AU$7m)

M1 CAPEX US$42m.
B1 CAPEX US$50m.

I don't believe CAPEX has been finalised for either stage 2s but significantly less in both cases is the estimate I believe.

Of the $20m raised only AU$4m used so far in development (recent 5B) so ~AU$50m remaining CAPEX for M1.

New debt plus equity raising plus cash on hand ~= AU$85m.

So M1 fully funded with change to complete B1 DFS.

AU$65m in options outstanding that will fund B1 with a bit of help from cash flows next year.