The company looks to have about A$1m cash. They need US$4m to purchase 50% of the project. They could have an extra 20% for an additional US$6m, but that would probably be further down the track, as the company is only capitalised at A$6m.
The rise in s/p over the last couple of days, suggests a cap raising at a premium to the recent s/p. Thursday will be interesting.
