Options conversion will raise about 1.3m. This from the February investor update. Don't think they need more cash at present.
Recent capital raises to advance substantial work on key projects, including:
• $11 million placement in August 2021 @ 2.7c
• $11 million placement, attaching option in October @ 6.25c
• Loyalty (Bonus) option @ 4.5c to eligible shareholders expiry 1 February 2022 raising $8.2 million
• Cash at end Dec $21.5 mill, plus now $8.2 million from Loyalty option take up less Jan ex
Ann: Trading Halt, page-70
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