Bullish Reversal Chart, page-1936

That is completely wrong @29101971.

SXG has 207.5mil shares fully diluted with ALL of its options are well in the money.

It also has 93.9mil shares escrowed to its major partner (I don't remember the name of that entity) and will need to issue those shares in May 2024 (about 2 months from now).

So, at 207.5mil shares at current sp of $1.90, its MC = $394mil today, right now.

But it will need to raise fund around Sep/Oct this year (my estimate) to continue its works.

And around end of next year to the next 2 years it will need to raise massive amounts of money to do PFS, DFS, and so many other works before it get to off-take negotiations.

After off-take agreements, it will again need to raise hundreds of $millions to build the mine if it does not get enough off-take pre-payments which is very normal. Not many projects get pre-payments from off-take customers and even if they are lucky enough to get some customers to do some pre-payments, not many will get to the scale of AUD $450mil pre-payment deal that BESRA has been able to sign with QUANTUM.