Usually the case but I would be pretty disappointed if that were the case. Clearly looking to get funding locked in for phase 2 and now cash burn would be relevantly slow.
Doesn't make much sense to raise when we don't even know if phase 2 is to go ahead. Hopefully this is just the presentation that they are giving to get more interest in the short term. If it were to eventuate would just look like TO is helping his mates get in at a discount.
Could also be what TO goes through in todays interview.
I will say though the 45 mil is an interesting number. He said in an interview 2 days ago 40 mil, so I hope hes raised the number based on existing conversations
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