They have 32.4 Million in cash and only spent 5 million last quarter. There will be extra expenses for the plant and for feasibility study but still nowhere near.
Did you read the announcement for the trading halt? It clearly say for an update on commissioning and project budgets from Glencore. They foreshadowed this 3 weeks ago. I don't think they'll just tack on 'oh and we're gonna raise 50 million as well'.
They are a long way from making any decisions (BFS, project financing) that require another capital raising.
I've been wrong with capital raisings before but I just don't see it here.
Ann: Trading halt , page-23
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