Ann: Updated Target Market Determination, page-2

I appreciate the company reacting to SPP demand in this way given it is such a pain in the A to deal with the bureaucrats.

Of course it changes both the SP trajectory and the capital requirements.
Short term much less demand for capital... may not need another raising to go with any Goldridge transaction until after the merged company's next campaign there.
And of course... if the money is prudently spent for a change and we get some good results for low cost... next capital could come from an expanded set of 2c options in a year... I think it might be 200m@2c at the end of it all = another $4m. Arguably what they have, plus that, *if* prudent, could be enough for the next 1.5 years if they have similar luck?

But if they can find a new deposit and look to be expanding the resource meaningfully, it could be easier to raise at 3c or higher during the year even with those 2c options in play.