So,900k in the bank plus 1,700k from this placement (less...

So,

900k in the bank plus 1,700k from this placement (less costs)

But FKG is an engineering services firm (is this shares in exchange for services?); Wattlestone Family Office’s founder is the owner of Vecco (another vanadium mine in the area) and Idemitsu is in the hook so they have to chip in to keep their share %.

Depending on how you measure it, they HAD to offer a discount. Cap raising for juniors in this environment is pretty horrible, 18% discount is about the norm in these tough times.

But regardless of the above, the $2.6M (less costs) will need to be stretched to the limit because of the following:

”Funds are being used to develop the Company’s electrolyte manufacturing business including pilot plant planning, and feasibility studies. Additionally, funds will be applied to the Lindfield Vanadium Project via commencement of the Pre-feasibility, approvals and ecology and water studies.”

Is the electrolyte manufacturing business a change of strategy?

How many prefeasibility studies (or pre-studies) could be funded with 2.6M less placement costs, less fixed costs?