Just need to read the "growth opportunities" section of the announcement to see they'll have no trouble raising 16m at 0.11
I like this part, "low grade stockpile ... with a cut-off grade of 10%, nearly 8.0Mt of low-grade graphite ore averaging ~6% TGC will be stockpiled over LOM. At nameplate capacity that material could extend the mine life for a further 26 years ... average grade of the low-grade material exceeds the average grade of a number of current producing mines and many of the peer group currently in their planning or study stages."
Ann: Rights Issue to Raise up to A$33.17 million, page-11
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