There was always going to be further dilution at some point. It became apparent after the EPA appeal that there was no way we were getting 800m+ of government funding and commercial loans, as well working capital through that time period.
My guess is we will have to raise ~12 months working capital at 1.1c whilst waiting for more VFB projects, vanadium price uptick etc. to then likely raise around a third of the construction cost through equity.
AVL Price at posting:
1.3¢ Sentiment: Buy Disclosure: Held
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