That’s a very concerning thing imo - they raised (aim to raise) as much as they could, afaik, by hitting the max dilution limit to instos of 15%, yet the dollar amount compared to the cash burn rate is …. Well it’s alarming, imo, even if they reduce expenditure somewhat as per the plan.
What’s the potential next step?
Magically secure project finance to progress through all the stages of permitting, FEED, power negotiations, detailed design, partner deals, etc etc etc…?
Surely they can’t repeat this same exercise (keep the lights on CR) in another 6 months….
Mozza probably has some thoughts on how it might play out…?
Surely it eventually gets to the point where waiting on “project finance” drags on so long that the kitty runs dry and no-one is prepared to dip into their pockets to keep the lights on…? Then VA or forced buyout for cheap…?
Wow.
Like I’ve said all along - what a case study!!!!
imo
Dyor
Ann: Trading Halt, page-221
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Last
5.3¢ |
Change
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Mkt cap ! $92.06M | |||
| Open | High | Low | Value | Volume |
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| LKE (ASX) Chart |