Ann: Renounceable Rights Issue to Raise up to $6.2M, page-54

For anyone calling out the cap raise read the quarterly released today.
Cap raise is purely to prevent being delisted.
they had 1.8 quarters worth of capital, the 3 mil (the underwritten amount) buys them an extra 2ish?
Hopefully as promised they amend their cash burn over the next 2, but next 12 months is make or break in my opinion. either they get JV funding as stated in announcements (prospective 10 accordingly) or they will get de listed and be worthless. There is no in between.

This is my opinion.

If you believe it will get off the ground in the next 12 months, accumulate, if you think it is a dead duck, sell.

There is no in between in my opinion, but this is not financial advice.