Ok so:1. $3m in the bank (3-4 quarters worth potentially)2....

Ok so:
1. $3m in the bank (3-4 quarters worth potentially)
2. Tranche 2 $5 placement will very likely go ahead this quarter as stated. (I.e. essentially another capital raise - i find it intriguing how they say they raised $8.5m yet $5m of it is yet to happen… but whatever - more dilution in the short term - a necessary evil)
3. Funding - everything points towards Chinese focus - no mention of looking elsewhere anymore
4. NH - crickets
5. Ancuabe enviro approvals - estimated in the June quarter. So FID won’t happen until 2H23, meaning offtakes won’t be happening anytime soon - fair enough.
6. Updating DFS - this has been happening for so long now and per this ann all they’re updating are basket prices, not touching the deposit numbers at all, so what the hell can take so long!?
7. Recommitment recommitment recommitment…

I am struggling to find positives here - it feels like a complete utter gamble as to getting NH back IMO.

Can anyone shine a better light on this at present? Unfortunately TON remains in a holding pattern for a while more yet.

I see they got their little pump post the first tranche raise at 2.8c - will likely going back there again with second tranche (also 2.8c) in this coming quarter (140m odd shares).

Thoughts?

Cheers Jtown (ex holder patiently waiting for re-entry)