Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-30

LOL.

I know exactly what it is, and I made it very clear what "I am talking about".

What it is most definitely NOT, is this:
"the fact that Cap raise requirements is 12 quarters away".

In NO way does it confirm as FACT that cap raise requirements are 12 quarters away. SIMPLE.
It is merely an over-simplistic estimation that is used to flag a potential for "running out of money", and hence it feeds into item 8.8, which essentially asks the company to explain how it can afford to fund the next 6 months IF they don't have enough funding to continue at the SAME level of operating cash flows for the next 2 qtrs.

The other poster absolutely misconstrued this item (8.7) and presented a claim of "fact" which is nonsense (which was my point, and you seem to agree btw), UNLESS the company continues at the SAME level of operating cash flows for the next 12 quarters, excluding debt etc.

Is that the plan?
Do you really think they can build a 50ktpa operation for under USD500M..?

Yeah, righto.

Good luck to anyone who believes that.