LKE were pushing their cash runway, right from the get go !!
Their latest Capital Raise target = Placement (A$15mil) + SPP (A$5mil) = A$20 million
Result = Funds raised A$16.5 million
less offer costs and GST = A$1.4 million
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TOTAL = A$15.1 million
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So they ended up with a circa A$5 million deficient...right from the get go.
Now we have a blowout of timelines...to find a lifeline.
IMO DYOR
News: LKE Lake Resources cuts staff, eyes asset sales amid low lithium prices, page-126
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