re: Ann: Toro Energy Announces Share Purchase... Hankimball - I'm not saying they shouldn't do a CR. It's fair to say they do not have the funds to see Wiluna through to production in Q3/Q4 2013 and sales (cash flow positive) in 2014.
However, this capital raising of $23m [assuming 100% take-up], will leave Toro with approx $35million cash. That is approx 2 years working capital at current spend levels - so ideally, with other financing [customer JV etc] options available this should be sufficient to see Toro through to commercialisation. However, it is fair to say that without another option $35million is not sufficient.
My comment is that I would like to know how we will be funded to this 2014 deadline [assuming all approvals received and no material delays in construction/production etc].
I also handed over money at the 15cents capital raising [and before] and will (probably) contribute again to this offering, but as an investor I want as much information as I can get before signing the cheque.
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