I am more concerned that this raising shall NOT cover all costs outstanding from plant 2 refurbishment, from my estimate's additional fees for mining equipment refurbishment (not run for 7 years) OPEX Costs, and plant 1 refurb around 20million by itself.
Not a lot to play with until DEC 23 earliest plant 1 could be refurbished very optimistic.
Current ore recovery 0.3g/t shall just cover running costs and petty cash/ contingency.
I could see every likely hood of a second raising around August 23 / or buyout.
My opinion only hope to never see $1.50 again.
Ann: Kingsgate completes $46M institutional placement, page-169
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