I'll come back to you. With a base case of US$173 million (which IMO always blows out) working capital etc I still maintain the co panty needs to raise over $300 million in equity because at this stage no graphite company has successfully procured debt.
Therefore I'll dilute by the appropriate amount of shares at 6 to 7 cents and come back to you.
Ann: Pre-Feasibility Study Completed, page-47
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