If I'm reading this correctly, this looks like payment to activate the $5.0m Acuity controlled placement agreement which was announced last year.
That implies there may be a requirement for significant funds sooner rather than later.
Just a bit of thinking about why, and I think there might be two main possibilities:
Post the 3D work, we're getting into the window where AWE may decided to go operator on La Bella and that'd mean we'd need the funds to stump up our share of drill costs.
We also know that management has been considering taking on other projects in the African region. Maybe something has come up.
Any other thoughts?
Ann: Appendix 3B , page-2
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