Great to see!
With only $9m CAPEX required to establish/prepare the mine and MEP to cover $2.25m of that, options conversion could easily cover the rest.
Given there is so much demand for the high quality product, much of the remaining $16m of working capital (stockpiling, shipping, processing etc) required from when mining starts until cashflow kicks in could be covered by customers pre-paying to secure their order.
Imagine if we actually got to production with no further dilution
Ann: Appendix 3B - Exercise of Options, page-4
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