The qtry reads like everything is still tracking well to...

The qtry reads like everything is still tracking well to complete the Foresstania IGO deal sometime over the next 3 months.

Just spit balling as I don't have SO access to raise info - but I am thinking this cap raise is another $5-$7mil to keep them drilling out KMC and also provide enough runway to close out the IGO deal and execute the major funding of the plant transition - as together that will require around $100mil (plus change) in capital. I'm also thinking that Alkane will want to retain their exposure and participate in this raise.
As presented up coming costs (if the deal closes) are $15mil for Forrestania (up front) - max of $50m..... plus another ~$73 mil in capex to get the plant transitioned.
I note how Galazy have now passed the Ravenshtorpe camp back to MM8 early (at no fee)... $2.2m in cash for 16months of using a vacant asset (brilliant deal from MM8 management there!)
In terms of approvals the DCCEEW assessment referral decision was set for 5 February 2025 (but they note it's now 'sometime' this qtr, so maybe it will be a little later than that). But we should head something on it during Feb.

All in all I think the company is progressing well..... and this cap raise is just another step in executing their well published plan.