Ann: Preliminary Short Form Base Shelf Prospectus, page-2

A prospectus to raise $C20m at FCC's chosen timing.

At 30/6/18 FCC had ~$C20m in cash, sufficient to fund the drilling and development of Iron Creek for, say, 18 months.  

On Nov 8, FCC announced a refinery restart would cost an estimated $US25m. It also said:

"While testing of historic muckpiles in the Cobalt Camp remains ongoing, and this historic material may in the future provide an incremental source of feedstock to the Refinery, further work is required and at this time the Company anticipates sourcing all feedstock from third- party sources."

Meanwhile, the US government is most exercised about access to strategic minerals, including Cobalt. Perhaps they might offer assistance to the only permitted refinery in N America.

Ash