Ann: Danakali to raise A$12.25m via Private Placement, page-6

I'm not surprised that they've done this now and not dissapointed either.
Raising at 62c is a good move I reckon. I was expecting the SP to be lower than that by now.

They've appointed the best operators around to oversee the development and that costs money. Lots of it.
But it's money well spent if it saves them in the end by being fully optimized with their engineering and design plans. And it gives the project more traction, looking more and more likely that it will continue to progress towards construction.