I don’t think they’ll have an issue getting the $100M mate.
But can they get it without diluting us to kingdom come ? That’s the million dollar question.
We’ve been given hints in interviews about the interest in the project, globally. They did a phenomenal job partering with Daelim too.
But suitors will look at the MC, and also the current cash on hand, and use that to their advantage in any negotiations.
You’d be wanting to hope a good deal is done, based off the last interview comments + the delays….. because although we’re at the stage where potential upcoming catalysts could really put a rocket in the SP and re-rate us significantly, we’re also at the stage of potentially doubling or tripling the SOI to get us there.
And spot on with their cash burn ….. keeping up with staff costs at this SP is plenty of potential dilution alone.
Cheyne
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