My understanding is there was over $5m in the kitty before they paid out the first tranche of the environmental bond. Leaving them with nearly $3m to operate for the first year.
Think we will see a lot more action in the new year before anyone starts talking raisings at much higher prices than here. These guys aren't stupid and are all large shareholders so aren't going to give it away.
Ann: Appendix 3B, page-18
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