Hindsights a perfect science when it comes to raising capital. obviously it was hoped that the REO news and wider market sentiment wasn't in the toilet and they'd be raising at a higher level today.
if they had of raised at 40c and the news knocked the shareprice out the park everyone would be saying they should have waited longer to raise.
25c is what I'm hearing around 4.5m. Also sounds like the book is already covered.
This will mean they have around 7-8m in cash, significant opportunity to drill out the graphite projects infill some stuff to have an indicative resource of kaolin-ree.
itm have mining and processing licence for campoona resource.
drill Lacroma and add that resource with campoona into a larger scoping study. in the background work on the resource delineation at sugarloaf which is at a scale to be global top 5 graphite resource.
from what I understand the kaolin-REO (unless the subsequent met results pivot the optic further) will underpin economic on kaolin production with a REO credit. I assumed tonnages Circa 1-2mtpa which makes sense if they've got a significant resource size. 50-100Mt. the process circuitry required to recovery the kaolin means REO can be precipitated as a by-product at little/no extra cost.
I have placed a bid in the raise. I think ITM is one of the best graphite plays in junior phase.
large large resource size
resource proven amenable for cspg
processing and mining licence already procured
based in SA close to RNU. a soon to be graphite hub.
RNU an excellent project, this could be what buying that was 2/3 years ago IMO.
the REO not dead yet but more likely a bulk scale kaolin project with REO credit.
SF2TH
Add to My Watchlist
What is My Watchlist?
