The Equity 8 facility is restricted to M$2 without shareholder approval to increase.
Already $833,524 drawn so a balance of only $1,166,476 remains.
However 83,850,000 issued shares remain available so the M$2 cap could be extended by resolution at the AGM which looks like it will happen on 26th November 2024 or thereabouts.
Also Topdrill was the same driller that Raiden used at Mt Sholl and they took 30% of drilling costs in equity (shares) at that time so I can see the same thing happening at A/S.
As others have said money to come from options and as they are in the money anybody that doesn’t convert must be crazy.
So I reckon no raise required before 2025 apart from maybe the small amount available under the At the market facility as shown above.
AIMO.
Jim.
RDN Price at posting:
4.2¢ Sentiment: Hold Disclosure: Held
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