Hey mate,Seems to be the board aren't confident in the shape...

Hey mate,

Seems to be the board aren't confident in the shape markets are going to be in the second half of the year. It's well and good to have the money to last until then, but if the markets have tanked further because the economic data is still getting worse, then its much harder to be able to raise money.

Car sales in general have literally stopped in a lot of the world, and the lithium experts seem to be forecasting a drop in lithium demand this year. The only question is how much.

In such an environment, and if travel restrictions remain in place, it is going to be harder to sort out the offtake and funding deals necessary for P1. It will take longer to do so.

So they're raising the money now to be able to sit tight and do some drilling for gold if Namibia allows people to move around anywhere. I'm not holding my breath on those results, but if they find some gold they can sell the rights to someone else and raise a bit of money that way. We'll see.

Cash burn drops off with the end of the feasibility study, so they should have enough to last 12 months at least.

Cheers