RCF can fund the project through to pre feasibility with a small loan- a dozen holes drilled and then we have scoping complete- pre feasibility complete.
I suggest selling equity with an off take agreement to either of
The steel companies in Europe or one of the dozens of large coal trading houses will fund everything thereafter And will be the eventual way out.
So I'm guessing 2-3m debt(convertible to shares at 30day vwop in 12-24months) and nae has an asset sellable around 80-100m...
Add the convertible shares and we are talking 30c
That is my take
So don't hold your breath waiting for a cap raise.
Ann: Results of Meeting , page-5
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