Even the biggest csd bull cannot say this makes us look like a professional outfit. I'm not bagging management. I think they've done an outstanding job to date. But this shortfall placement will neuter any sp rise post pfs and/ or jv. 25m to place and only 10m done. They need to allocate it or scrap it before the pfs is released, though I suspect if it's positive then there will be no problem placing it then.
My point is this. Who would buy on market knowing 15m is available at 5c??? Think they should take what they have, close it. Make it clear and announce it to the market. Then bring on the pfs and jv... funding post jv should be much easier to come by. What we've currently raised should get us by til the pfs and jv. $1.1m raised to date after the latest 3b. 290k in the ball S60 last quarterly. 450k left from the snow peak funding facility. It's tight but should be enough for now. If the jv comes through, we may even get the oppies converted which will be $12M in the bank with much less dilution. Either way, funding will be much easier post jv.
CSD Price at posting:
5.1¢ Sentiment: None Disclosure: Held
