How do they get to $3.4 million raised? Seems like a very misleading title as they have raised only $2.3M cash before costs. Agreeing to $1M in drill for equity is not a "raising", in fact it's the opposite and will end up as a liability on the balance sheet (assuming the drilling actually occurs) until it's paid or converted. And again the $140k in government co-funding is not a "raising" and requires them to spend $280k in total up front to get 50% back. Let's call a spade a spade.
Ann: $3.4m Received in Capital Raise for Drilling Whundo Copper, page-7
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