Ann: Fully Underwritten $40M Placement & Non-Underwritten SPP, page-6

It was meant to be rhetorical The point remains with such a rosy FY24 picture (painted or otherwise) this CR would not be required from the corresponding cashflow alone. Either that or just like everyone else BOD and Management have little faith in that stated guidance.

I gave management the benefit of the doubt. It is after all bad luck that got PAN on its knees. This CR is plain and simple bad deal. No excuse for that in my view. Oh well another miner biting the the dust. It is poignant to say it again....