"Would 15% be sufficient for the size of the JV that's been mooted? "
At the current SP , 15% won't even cover our cash burn for the year, 25% just covers it.
And here you're talking about a JV?
For our current cash burn we need a higher market cap.
Even 4c gives us a 120m MC and 15% of that is $18m. 25% is 30m
at the rate the SP is falling, the next CR will be at 1.5 ( if we're lucky )
even 25% of 3bn shares @ 1.5c only gives you just over $11m
In the past 9 months the company has increase SOI by around ~50%, assuming full uptake of SPP.
This is a funding model that can't continue. All it'll take is another GFC and the company will be gone in a blink of an eye
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