The $193m or so of unused financing facilities is a little...

The $193m or so of unused financing facilities is a little inflated... According to the 2022 release, Acuity holds ~250m SYA shares as collateral shares, which is worth under $10m and (the following won't happen), but selling $193m worth of stock at a discount to the current price would require issuance of somewhere around 6 billion shares and take up pretty much all of the market volume for nearly half a year. At the current share price, it is unrealistic to say they have a $193m of unused financing via the ATM facility, so the current cash balance is a much closer representation of their liquidity position. It is still quite reasonable and as far as I can tell, spodumene pricing down around US$1k is not really sustainable for any producers, hence can expect some recovery at some point.