The Feasibility study released 10th October covers it. Page 10 for capital requirements.
In short, $108M pre-production capital required. Presumably the $7.4M already spent since 10th October on Federation comes out of that. so another ~$101M needed albeit not all at once (production by 2025)
$74M debt facilities available but $36M restricted cash balance attached to using those debt facilities. $46.5M cash in bank but effectively only $10M given we'll need to draw upon that debt.
So my understand of it is AMI is currently approved to loan upward of $74M, Spend $10M max of it's current cash balance = $84M. Shortfall ~$16M.
If they can optimize current asset cash flow (target the best grades) then a capital raise in the short term may be avoidable.
I wouldn't be surprised to see one though.
AMI Price at posting:
12.0¢ Sentiment: Hold Disclosure: Held
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