No debt just means financing comes out of your pocket.Debt isn't...

No debt just means financing comes out of your pocket.

Debt isn't a bad thing, when used appropriately.

Key word is appropriately... so I do suppose blowing any debt financing on something that has no end in sight - ie. it may take them another (x) years to get working - would be a bad thing.

We will have more cash in the bank once they do the cap raise. The question is for how much and what for... I would suspect the raise will be for continuing works on the current 2ktpa plant, and the CR for expansion (part CR / part strategic investment, likely) pushed a year or two later now, after they've achieved the capability of producing 2,000 tpa.

Keen to see their current cash position, expenditure and an update on production quantities. We can already expect more fluff about advanced talks re financing and/or offtake negotiations, as well as how good this has been as a learning experience for them.

GLTA