I think it would have been too risky. If the binding offtake needs more time and gets held up it would of put the share price under more pressure. This would have been worse for a capital raise. Also $13M in the bank was back in June. The September Qtr accounts will be interesting to see the current cash position.
On the flip side if the binding offtake agreement is signed by November this will be a very small retrace in the scheme of things.
Ann: Trading Halt, page-59
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