Ann: Trading Halt, page-5

They had 3.284 million cash in hand at the end of March (source: March quarterly report.) The Appian debt ($US1.329 million) comes due in September. Cash in hand at the end of December was a touch over four million, so you'd expect them to have somewhere around $2.4 million. Take out the debt, and that's just $1.1 million (assuming all those figures were in USD; if everything except the Appian debt is in AUD as I suspect they are, then the situation is far worse: $US1.329 million is close to $AU2 million.)

My guess: it's probably to give them room to move in paying off the Appian debt without losing too much of their cash reserve pending the license - remember that they still need to build the mine and start operations before cash flow will be positive. Even if they fund it from debt, it's likely to be getting a bit too tight for comfort without a CR.

I'm hoping this will be the last, though. (Mostly because if it is the last CR, it means the SML isn't far off.)