I agree that the project needs to be progressing where possible,...

I agree that the project needs to be progressing where possible, they have already decided to halt further works on the dam to conserve cash until financing is finalised shortly. This has put us slightly back meaning production early 2020 rather than late 2019.

It's more a question of when than if regarding another cr, I'm guessing it will be shortly after securing financing.

Depending on how the sp reacts to any news on a mining license will probably impact the equity financing of the project, if the sp reacts poorly then most likely Shandong will help fund the project at a bargain price.

Interesting to know as mentioned in this quarterly who the other interested parties are in regards to funding the finance package. Perhaps Pinnacle want a bigger slice?

Regardless of the financing term sheet & makeup it's very possible that any further working capital required after these details are announced will be raised at a significantly higher price than the latest raise.

Capital raising can be a dirty term for shareholders but unfortunetly it's part & parcel of the game when transitioning from prospective miner to producer.

Until we have revenue we will be reliant on shareholder funding however if the project gets the green light I can safely say that a few las cr's under those circumstances will be a welcomed pill to swallow under the guise of bigger & better rewards to come shortly after.

All in all the quarterly report was positive, strong language & intent towards moving to production. MCC heading up financing. Sounds like the mining license though slow is still on track.

See how the next few months leading to Christmas go!