Ann: US$14m Loan Facility Approved & Firm Bids for Placement, page-120

Remarkably that's why NI said in their latest note, despite having received handsome money to promote the stock. I find this change in tone significant.

So it's probably not just retail shareholders who are losing trust with Lindsay. Looks like some sophs and large holders are having a thinner patience, too. Maybe that explains somewhat the options being thrown away (to appease their disappointment), in addition to being out of money in a few weeks at the time of CR.

This is Lindsay's last chance to deliver (Q2 2025 production), or else he should just step down for good, retire, and never manage a company again.