Timing seems odd here having just raised 1.6m a couple of months ago...
$2.4m as at July
- 400k working capital
- 100k POSCO DD
- some portion of 200k to progress Gov free carry
- 150k raising expenses
must have at least $1.6m in the bank.
POSCO DD extension surely can't be more than 50k.
Cutting it fine I suppose. They were probably hoping to raise higher following positive DD results after the 90 day period. Sept quarterly must be showing less than 2Q expenses remaining i.e. they spent > 800k for the quarter. Not ideal. Hopefully available to all again.
Ann: Trading Halt, page-2
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