Anyones guess. Patterson report states CR would be in the next 12-18 months. Perhaps this raising is only small. The reason I say this is I'm not sure how much needs to be spent on the existing plant. They call it a 500 ton per month plant. It is apparently producing 300 tons per month at the moment but that is only one shift per day and 5 days or less per week. The 2nd Sept 2015 announcement states it can already produce 500 tons per month but with an additional shift and 6 days per week. Seems if they want to upgrade production to 500 tons per month, they just need to put on more labour. Maybe this rights issue is just about getting through this stage of the purchase and extra working capital to pay wages in the interim. I really don't know with the info I've read to date.
Anyone got a clue on this?
Ann: Bass set to become Australia's only Graphite Producer-BSM.AX, page-103
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