While disappointed to raise funds again. I think the wet season may have slowed things up (BAMA contract).
Looks like it's going to be short process, via Morgans. This is the first time a raising has been done via a major Aussie broker, so we could be up and going next week.
Most of the money going to a sizeable PFS. This is required to get the funding from either NAIF, Critical Minerals office or banks.
Some of the equipment is pretty old, so these should help with productivity.
Hopefully we will get an update of the progress being made over recent weeks with the METS program and assessments being made.
At least the timing is right in the sense of rising tungsten price, critical minerals and global supply chain problems.
We will still be the only producer of tungsten in Australia for sometime.
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