2.9m cash at the end of September with 1.1 quarters left in the kitty. LCL once again rattling the tin at a rather depressed valuation. I assume they have to reduce their spend if they don't want to go to market in 6 months time again. My assumption is they will raise 4m at 1.9c, although it depends on which instos are willing to participate and how the bookbuild is going today.
Not quite the story we wanted to see when Jason brought in the PNG tenaments, but it's still fairly early days.
Ann: Trading Halt, page-2
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