Agreed.
It would be strange to raise funds for P1 when an updated PFS has yet to be released. And one of the outputs for the pilot was to test L/S/LOH-MAX so that an updated PFS was accurate. With $4.5M in the bank, and an R&D tax refund (circa $1M) on its way, they do not need cash in the interim. So they don't need money immediately, and have yet to inform the market how much P1 will cost to build (or locked in the location for that matter).
I would agree that a change in P1 location + investor is the the odds on bet. What odds you offering?
Ann: Trading Halt, page-69
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