We've seen Hot Chilli ( HCH) raise USD15m last June through a...

We've seen Hot Chilli ( HCH) raise USD15m last June through a royalty agreement with a funding entity ( Hot Chili Announces US$15 Million InvestmentAgreement with Osisko Gold Royalties) - so that side should not be rocket science.

The issue is really about value; unfortunately hitting .9 means we have lost 25% of our MC with a decline of .3c in the last month.

Hopefully the scratching will generate some positive indications that will strengthen our negotiating hand and enable a better deal, but regardless I expect a combination of Duffy and reality will bring on a deal in the not too distant future.

I expect ( hopefully) an ann of some cracking trenching results imminently that will hopefully convince a funder that the investment is worthwhile. It's not going to be cheap with rates staying elevated due to the growing realisation that killing inflation is akin to slaying Tolkien's Smaug.

If no good ann, we still need a funding deal and show some commercial smarts.

Another lowball capital raise at these rates will certainly say goodbye to the prospect of recouping even our FY24 losses, never mind the longer term haemorrhaging.

GLTA

Wazz