Ann: Placement to continue Strategic Investor Process post PFS, page-6

I read it as both an Institutional Investor and Iron Ore Strategic. Its a good raise for capital, we have very low outgoings over the rest of the year. This should provide sufficient funding after the PFS to negotiate the best way forward for the company, without having to worry about short term funding. Gives us sufficient time.

Its interesting to get an iron ore strategic on the register, I wonder what their long term motive is?

I'm a little disappointed in the raise price as think it could have been higher on the back of the PFS that's due to be released over the next few months.
However, can also understand the view to make sure we're well funded moving into this critical period, especially with support from heavier hitters.

Its a small dilution so if you weren't able to participate I think buying your equivalent dilution on market would be a smart option moving into major de-risking events.