$7M is just the placement, it's a total of $20M. I think Chris said the cash burn was going to decrease in one of those recent interviews. So we have to see the next few quarterly's to get a better idea of the new cash burn to determine how long it will last.
They expect royalties in late 2025 from Stelco, I was also told the VRP was a project, so easy come, easy go. Take this with a pinch of salt.
NEOMETALS LTD (ASX:NMT) - Ann: Capital Raising Presentation, 71012239, page-1 - HotCopper | ASX Share Prices, Stock Market & Share Trading Forum
Ann: Neometals Launches Placement and Entitlement Offer, page-20
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