Will be interesting AG has copied LPD raising and used same company. CPS have just placed paper for LPD $10.5 mi raise now they are going to try and place paper for a second Lithium processor startup who at current cash burn rate will need to come back to the market in 6 months.
I would expect some news flow to help support this raise otherwise it may be dead in the water and the underwritten amount means they will have to come back to the market in a few months.
I would expect strong support from BoD and Management in taking up the shortfall as I am sure PWN cannot afford to take up their entitlement and are probably in the queue for the next CPS raise.
Oh well AG should have stuck with developing LMax and Lepidolite Hill. It seems FML is selling that waste and the alliance with FML runs out in September unless it is sold earlier - no mention or clarification of this in the raise.
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