To me it feels like too big a raise asking for $60m when the...

To me it feels like too big a raise asking for $60m when the market cap at the time was close to $60m. The amount they raised gets us through to Q1CY19 or later so opportunity for Mr Market to like the progression, and to have Financing details priced in. I gather we won't get final tick off from Financiers till the equity side is included in but hopefully once the due diligence is passed we can get more detail, the outcome becomes clearer and the market responds. Also, if you're not exactly clear on how financing will play out you don't want to say you're doing a final equity raise then have to come back to the market when (say the stream) financing doesn't make financial sense at the price offered.