Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-3

In reality, there are closer to two-quarters of funding left, but either way, this explains the need for the raise. I'm not sure how likely the US Government Funding or a Strategic Partner are at this stage, maybe in 12 months, assuming things keep moving in the right direction.

8.8.3 Does the entity expect to be able to continue its operations and to meet its business
objectives and, if so, on what basis?
Yes. The Company is considering a number of financing options which are expected to
provide sufficient funding for approximately 12-18 months including:
1. US Government funding – applications for grant funding have been lodged and there
are ongoing discussions with various US Government Departments supportive of
Meteoric’s Caldeira Project.
2. Strategic Partners – Meteoric continues discussions with various strategic partners
who may have an interest in the Projects offtake or equity.
3. Equity raising – the world class, low cost Caldeira Project economics support further
equity raisings in the view of the Directors.