This is what BOD advised on March 18"ShortfallAt the closure...

This is what BOD advised on March 18

"Shortfall
At the closure date, there is a shortfall balance of approximately $1.27m or 180,939,451 shares. The
Directors and the Lead Manager have committed to place shortfall shares at their discretion within 3
months of the closing date (being 12 June 2024). The shortfall is a separate offer made pursuant to
the prospectus."

Since JE drilling was delayed by approx 6.5 weeks [approx half the time from March 18 to June 12] then one cannot rule out the June 12 date is hard and fast - due to the cyclone.
If drilling was nor delayed and combined with priority assays, then the assays would have been available weeks ago

Maybe the BOD and Lead Manager will make a decision to extend the placement period, so that JE assays can be taken into account.


On the other hand, given todays strong demand and .007 sp holding up, then it would be a disappointment if there is a firesale for the shortfall. The Kestral contribution is also in the mix now for any valuation

cheers