Looks like a stop gap raise to keep the lights on. We know the Mallee Bull decline will cost a motza to go forward with, that's the next step there. The bullet has not been bitten. RT will see the maiden resource for SN as the only thing he really has to check off this quarter, so I just can see these millions being frittered keeping the lights with the cover being stuff described as 'pre-development activities at the Mallee Bull deposit' and 'continue CSP programmes of work with JV Partner JOGMEC'.
I genuinely don't believe RT has a clue on how to advance these projects. Look at the fiasco over the Mallee Bull PFS that never even saw the light of day.
This is more of just rowing the boat around in circles.
Ann: Peel Raises $7 Million to Advance Cobar Deposits, page-8
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