Ann: Notice of Annual General Meeting/Proxy Form, page-2

At first glance this is a little confronting given they have just raised $21m (i.e. 60m shares + 15% + 10%)

After re-reading, I would like to think the logic is that the PCD Facility is now funded, as is the operation thereof, however the period post-flaring (ideally after significant sp growth) is not fully funded through to commercial scale production (i.e. cash flow positive).

Once would imagine LCK are positioning themselves wisely, such that post flaring after what we all hope is significant sp growth, they can take advantage of such growth and raise the max amount of capital possible to sustain operations through to commercial scale production. I don't believe the table on pg 11 of the AGM document does the next 12 months justice either, 100% increase in sp on todays value is only 26c, capital raised if it were double that (which is IMO achievable) is quite a bit more than the table suggests.

Looks as though they are giving themselves 3 opportunities to raise capital , might be a smart move after some nearer term catalyst, i.e. sale of gas in place etc.

Im sure the chairman will send out a letter to share holders soon ahead of AGM, might be an interesting read