CAY will DEFINITELY need money in the form of a CR in my opinion.
There MAY be some revenue in from up-front offtake agreements... however this cash will not survive long enough.
HOWEVER, if the company is clever, which they have proven to not be sometimes, then they would get the news flowing as soon as possible, solidify in the teens and raise an amount to see us through to funding for the $120m needed for mining.
all in my opinion... CR's are not always a bad thing.
Ann: Proposed issue of securities - CAY, page-95
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