Option conversion will generate nearly $5m.
Funding for the US will provide nearly another $1m.
Profits from Moolap will also be used for funding.
They will only need around $8m-$15m for Russleville, when taking into consideration the above. That's chicken feed for a company to raise. Worst case even if they did a CR at $1, there would only be another 8-15m shares on the register.
Butchy.
Ann: Half Yearly Report and Accounts , page-3
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