Ann: $8 Million Placement to further expand the Antler Project, page-49

I really like Mike. Smart, experienced and successful. Certainly not the 'salesman type MD'. Further increasing resource and coming up with DFS, FID including mine design should mean 2023 is a big year

Clearly the major issue appears to be this. With a tiny mkt cap (circa 60m) there is no way equity could contribute 30-35% of the 300m AUD capital cost in a year or 2. Assuming we need say AUD 100m equity (and AUD 200m debt) ideally we would have a market cap closer to 200m which even then makes it a very dilutive share raising (1 for 2 rights issue type scenario). And 200m market cap is a 3.5x bagger from here....

Otherwise like many other juniors it could be bring in a larger JV partner or sell the project