Apologies for the late reply, started this and then got...

Apologies for the late reply, started this and then got distracted by work and some other stuff.

Yes, it happens often.

As I understand it, the board will call a meeting and put forward a resolution that will allow the company to raise more than whatever the current limit is (15% of total market cap or whatever).

It is then put to a vote of the shareholders, and given the intent of all investors should be to go from explorer to producer, the resolution should pass.

I believe the board will then put together the funding package (mix of debt, shares, maybe some prepayments etc), and then that will allow the company to issue the stock to raise the necessary funds.

I am not 100% sure this is exactly how it happens, but that is my understanding.