$54m Placement by Cannacord, page-30

You misunderstand the process involved in the devt of SDV, which will ramp up gradually over the next three years. First there will be the construction of evaporation ponds, then the building of a pilot plant producing saleable Li and then the expansion to a full plant. There is no need to raise $150m. A third of that should be sufficient to cover operations as the money from Mt Cattlin increases each month. Put simply, GXY can't 'go all in', as you are urging. With brine, it has to pace the devt over an extended timeframe. No point raising money that won't be spent for two or three years, by which time GXY will be awash with funds.