The company is a long long way from securing project funding,...

The company is a long long way from securing project funding, imo.
They raised as much as possible (15%) via the placement, afaik, to keep the lights on for a bit longer.
They spend like there’s no tomorrow.
Retail need to DTOR to better understand how much cash is being burnt - it’s all in the announcements.

$1.5M might buy them an extra few weeks …? A month..?
In the mammoth task of securing project finance, this time will evaporate in a heartbeat.

I don’t know what will ultimately happen, of course, but I suspect it will drag on, burning through the new $$, and I can see why some others are calling it a death roll.

I think there’ll be a pump at some point in the coming month or 2, so the big dogs can profit on their placement shares, as they transition them (or a lot of them) over to hopeful retail.

Just imo.