There's no argument really though is there?The company has short term debt and no cash.
It has secured 55% of Shallows funding amounting to AU$76m debt, conditional on 45% remaining to be raised with equity.
So you've got to raise about AU$70m with an equity raise.
Current mcap is $70m.
So yes, a doubling of shares on issue at the current share price would get you there. 50% dilution.
Again I admire your optimism, I hope it works out well!
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