Hasn't there been pumps previously before equity raise? Could...

Hasn't there been pumps previously before equity raise? Could this be happening again? If it is, I would hope it is announced with an appropriate OTA (and maybe government debt conditions satisfied).

Why would there be a CR? Well even though they have sufficient cash to get the mine operating, they would I guess use close to all their cash and maybe have to draw down some debt. This would particularly be the case as they start production and are still ramping up (negative cashflow through this period too). So big risks here.

Also, given low graphite price, drawing down debt is bad because atleast the interest has to be repaid, if not also the principal. Again a further drag on available cash in addition to as mentioned mine build and negative operating cashflow through ramping period.

I believe there was a comment from DC (I'm not 100% sure, but thought I saw this) in which a HC poster mentioned, that if the government had turned the loan into a grant they would be mining already. Makes sense on above basis.

Saying all of this, I would hope that still a CR is not required and offtake partner takes equity stake on reasonable terms and this gets us over the line......or a government grant would be even better of course.