no timelines given. Couple of us enquired about recent CR being only 1.2m which isn’t much & potential for them needing cash again come Jan/Feb & the response was “no, we are on skeleton expenses atm, according to our calculations, current balance will see us through to May-June next yr. We could’ve taken the full $1.7m but didn’t to reduce dilution at current price”.
they couldn’t confirm ofcourse as things could fall off but were fairly confident that would get funding through before this $ runs out. MQ has earlier said it takes 3-4 months or so for the legal DD, but it isn’t IDC that’s limiting factor atm, it’s west wits getting the remaining $25m or so to tick the box for IDC.
Ann: Chairman's Address - WWI 2023 AGM, page-29
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