I’d say they’re different this time round, our Chinese investor is on our board and they own 23% of the company through a subsidiary.
Management have performance rights vesting on a minimum 50% binding offtake which should lead to funding.
There is also enough cash now for a sample plant, 50 mil options at 10c due mid July for another $5mil, and 70mil or so which have just got issued due a year away at 11c for another $7mil.
It’s unlikely there would be another cap raise if they are in the money. As we should have a busy 1st quarter, I think they should be.
Good luck and dyor
D7
TON Price at posting:
7.2¢ Sentiment: Buy Disclosure: Held
