I find the headline of the announcement a little misleading. Correct me if I am wrong, but of the last cap raise, only about $10-12 million will go into research, of which probably $6-8 million will be spent this financial year. This gives a rebate of approximately $3-4 million. So overall this will only extend finances for 3-4 months. For this rebate to have a significant change, quite a lot of money has to be generated either through a cap raise, investment or selling a product.
It is a positive thing this announcement will have for Recce, but not as good as I initially thought.
Could someone with a bit more knowledge please clarify.
Ann: RCE Awarded $43.7m AusIndustry Advanced Overseas Finding, page-29
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