The important thing is what we can get with the 20 Mio in bank...

The important thing is what we can get with the 20 Mio in bank and adicional funds incoming, whether or not the Capital Raise goes as expected. .
Enough to continue till concretisation of MOU for example?
Anyway the Mikuyu projects are not for beancounters. Dealing with world wide relevant projects needs vision for the future. Since 1983 trading I am used to have had some losses too. One mayor fault was to invest too much in pet projects. Go for the size is what I am interested now in. One company which I sold mostly has issues with dwindling well flow, they advertised the oil wells initialy as extremely long time lasting, now they might have to spent more for drilling.