Ann: Global lithium producer SQM takes 40% in Pirra Lithium, page-14

@MTV - the aim of the capital raise earlier this year was to strengthen CAI's balance sheet. As of result of the capital raise, CAI's current ratio was 1 (current assets divided by current liabilities).

In Q4 FY23, CAI incurred cash outflows of circa. $7mill when excluding cash proceeds from financing activities. Because of this, you can see that the balance sheet position as of June 2023 has current liabilities $7m higher than current assets.

In totality, I expect cash outflows of circa. $20m in H1 FY24 - CAI have already reduced their cash and bullion position by $11m in Q1 FY24 and I expect a further $9m cash outflow in Q2 FY24.

To surmise, CAI will need to raise circa. $27m to re-establish it's current ratio of 1. Just a rough calculation though.