Surely 100m is way too high / necessary for CR. Better to raise less now and more later on when price is higher/or fund via alternative means to minimise dilution
Next tranche payment - US$15m (~$22m AUD) 2H23 drilling - 10m? Phase 1 plant capex ~$30m (estimate based on one of Alastair's interviews) - presume some of this could be funded at a later stage / via alternative funding options (e.g offtake pre-payments).
I reckon ~35-40m needed max with rest from offtakes/alternative options
