The only benefit of the $2m (right now - until it is actually...

The only benefit of the $2m (right now - until it is actually outlayed) is potentially some modest interest revenue (unless it has been quarantined).

Otherwise, it is effectively and for all intents and purposes of no benefit to OBL.

I think the underlying message here, assuming that OBL has about $1m (deducting the $2 but not deducting the business as usual expenses like wages) how is OBL going to progress projects?

A capital raising will put pressure on the SP to fall from where it is.

Alternatively, some JV arrangement.