Yeah, Seamus stumped up another $400k in the recent placement because the intention is to be in production 200 years from now.
Don't forget the hundreds of thousands in options he exercised and shares bought on the market at a much higher share price. (mid 50s, 70s, etc)
Such dedication and contribution from a chairman is a rarity across the markets. Seamus has the utmost urgency to progress Colluli.
What matters now is securing the remainder of the funding, once that objective has been attained, I'm sure the company will disclose an accurate timeline for development and ultimately production.
Based on Seamus's recent interviews, the funding sounds imminent and seems to be a combination of increasing existing debt facilities and an equity portion.
As we've seen with the recent SO4 demise, the uniqueness and commercial viability Colluli is once again certified.
The SOP brine projects don't come close due to complexity and expense. There is no other SOP project in the world that presents in this scope and scale. Solid form potassium salts, shallow... presenting with mouth-watering economics.
DNK Price at posting:
47.0¢ Sentiment: Buy Disclosure: Held
(20min delay)