Capital raising not required for commencement of mining at Perseverence. According to the bankable feasability study announced in December 07 $2.8m is required for capital works to get the project underway. As of 31 December 07 they still had $7.5m in the bank.
IMO the only question mark is how they will raise funds for the buyout of their JV partner but this looks likely to be done through debt financing rather than capital raising.
should i buy, page-28
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