I'm fairly certain that phase 1 in Brazil was fully funded.
IMO they'll struggle to raise without results. So at the very least samples that are at SGS need to show some promise and hope. We know that results are imminent, unless they raise this month then it will be after results.
Either way it's a win win, if they raise at this price there will almost certainly be a pump and an opportunity to exit if you're not happy.
Ann: CODA drilling update, page-22
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