The SP looks cheap but it can still drop further. Last Q they...

The SP looks cheap but it can still drop further. Last Q they were down to 1.8Q of cash so even after the R&D rebate they'll be down to 1.2-1.3Q of cash and either having to rush through their 2025 R&D for another mill or start raising cash, I expect both.

With a market cap of $39m and assuming any raise will need to be at a discount of say 10%, means the 15% rule limits raises to around $5m. (Did they pass a 7.1A 10% addition to that at AGMs in the past?)

I was thinking about buying back some shares I sold last year, but I'm happy to wait for the raise to be announced and see if I can get them at 10-12c.