look at the positive. last research report assumed the money to be raised at 20c but it's started at 33c. price target was circa 68c and now just on this information alone will be much higher. if I was investing $80m I'd want bit of a deal. I'd say the drawdown is predetermined based on milestones. cash not needed yet but key milestone was triggered. makes sense to be fair to GEM rather than just drawing on $80m at 11th hour when price is higher
Ann: International Fund Initiates Strategic Interest in FYI, page-32
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