I was hoping they didn’t need it, but given the ramp up in...

I was hoping they didn’t need it, but given the ramp up in production... they need the cash.

cash balance was looking very low, so not surprised.. in fact as some have pointed out, management have hinted at a cap raise a few times since the AGM. I am just a little disappointed the debt facility didn’t come online in time to avoid the need for this cap raise.

Good news is that this will fund the ramp up in production and set us up for 2020 and beyond... if IC and the new debt facility come online, there really shouldn’t be a need for a further cap raise unless there is extraordinary growth that requires massive short term capital expenditure.