"Every day they wait is another day before they can get drill rigs rolling."
I'm not sure about this. GFG/SIMEC are on a time line to make this look good when they list Whyalla.
On page 5 of the announcement on Security bullet point "The share subscriptions are structure so that subscriptions monies are provided by GFG to Havilah in advance of the relevant shares being issued, so as to allow Havilah to proceed with the relevant work program...."
And security has been provided to GFG over tenements, although only capable of being exercised if Havilah becomes insolvent.....
Therefore, the money may have already starting flowing and drill rigs working before the shareholders vote...
Ann: Havilah Secures Funding of up to $100M from GFG Alliance, page-107
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