Not sure if there is a minimum, but I'm betting this will be scaled back significantly, say $7-8 million USD. Enough for a good season of drilling and keeping the PFS studies on track until it is released in 2025 (maybe). We do need cash one way or another.
This assumes that they don't have a "long term" investor/s looking to come on board that is willing to compete for the whole placement. Nova's not a bad leverage play on the gold price, and a few more ducks lining up could see that play out.
Ann: Notice of Extraordinary General Meeting/Proxy Form, page-35
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