They have 7 Nirobox on hand, and Aspiral has a shorter lead time...

They have 7 Nirobox on hand, and Aspiral has a shorter lead time so they don't need much built - rather they will build to order (5-6 weeks from start of production to delivery).

The "funded to profitability" line came out again ... however reading the tea leaves it sounds like a capital injection will follow a huge announcement later in the year.

The capital injection will be required to meet the short term cash requirements to manufacture the products before cash receipts come in. These are very well received types of capital raisings, as it essentially marks the start of the J-curve.

Other worthy notes:
1. Significant uptick in activities in China;
2. Financial close for Ivory Coast in Q3 is much simpler than San Quintin (BOOT), so the risk of slippage is low;
3. Expect some activity to come out of Brazil shortly.