Ann: Sale of Challenger Royalty , page-5

Anything they can do to increase their cash reserves I would view as a positive. The more cash they have the less likely it is they will need to go back and raise capital again just incase Symama costs more or takes longer. Maybe they have learnt their lesson from last time and are being conservative. Their future depends on Symama, they cannot afford for anything to go wrong in this market, second chances are hard to come by.