So, what do we know:
- End of September they had 5.1mn; end of FY they had 6.6mn....a burn rate of ~500k per month
- Assuming that burn rate is constant, they would have had 4.6mn at the end of October
- Raised 2.5mn; 2.5mn + 4.6mn = 7.1mn as of now (14/11/2022)
Now there are 59,645,318 options on issue, exercisable at 8 cents per share expiring on 25th January 2023. Question is whether between now and then, there is an event that results in those oppies being in the money. Site selection? London listing? I guess its a wait and see.
Ann: Trading Halt, page-13
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