Not what was expected as KK had clearly announced that various punters were in the data room to take a position that would build the mine, even through there's no DFS or BFS as yet. Why didn't he tell us that they needed to keep the lights on first with a dilutive CR/Placement? I suppose we should have guessed that was the case instead of the non-dilutive long term solution for the capex that was supposed to be announced in Feb. I wonder what comes next? Probably not what KK says will happen.
Ann: Placement to Strategic Investor at Above Market, page-14
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