Ann: $40M Arranged to Acquire Cortadera & Deliver Resource Growth, page-52

My thoughts would be that part of the deal of Glencore coming on was that we moved to 100% of Cortadera immediately.

So minimum $20 mil was required for that and given cash was down to $3 mil 5 weeks ago, likely it was around $2 mil by the time the raise happened which then there was no chance they didn’t need to raise more funds right now for ongoing work.

Add on that every man and his dog knew that they needed funds to cover 12 months for the upcoming TSX listing would have brought on the same issues we had prior to this raise.

I like how they have ripped the bandaid off (I wanted them to do it on the last raise at 4.2c) our MC fully diluted is still barely over $200 mil.