Yep, good to stay away from cap raising. But also showing that things are tight and they haven't received approval yet.
From memory the last time they mentioned it (beginning of Sept) they said that permitting was on track to submit mid September. There has been no announcement to say they've actually completed it though. You would then assume a period of time for the relevant department to assess and approve the application. As soon as it's approved CMC is to pay $3.5mill. Then the second $3.5mill after stage two application submitted/approved which was suggested to be 12months after the first stage approval.
Cheers
Ann: $6M Investec Standby Facility Approved, page-3
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