Somewhat expected and pleased the funding question is addressed in short term and can see a cornerstone investment developing latter this year. Also pleasing.
I have read the condition a few times (about waiving a further $2m share issue over next 18mths) and this would tie us over until SoM start up. I think i am reading the para correctly.
10% would be a further $4m placement at current prices. I wonder if this what is meant by the waiver condition?
Ann: Subscription Agreement for $1M with Black Cat Syndicate Ltd, page-6
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