This will delay the first royalty revenues from late 2025 (as mentioned in the AGM presentation) to late 2026.
The intention of the capital raise was to equip the company with enough money until late 2025. They haven't been able to rise the intended amount.
I think with today's announcement it's clear that the money will not be sufficient until end of 2026.
So either they can sell their Vanadium business or another capital raise will be our Christmas gift in 2024.
I'm not happy with this development!
Ann: Primobius Commercial Update, page-13
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