they have $7.5m in cash as at 30 Sept. they will need circa $15m...

they have $7.5m in cash as at 30 Sept.
they will need circa $15m to refurb the plant and general overheads but this could be easily debt financed against thr revised (and positive) FS once completed due before EOY. once refurbed, the replacement cost for this asset is around $60m alone plus around 700koz ounces of gold in the ground. with 5 month turn around to start pouring gold, debt financing would be easily available and cheap - no need to raise capital as only dilutes the directors and soph investors as well

a CR is always a possibility but seems unlikely in the near term. id say any CR would be strategic to pursue further acquisitions or costs related with the barkly project.

agreed there are a lot of shares on issue however very tightly held with the exception of Copulos who is either out or finished selling. I suspect he will retain a portion of shares with aim to participate in any future placement. it has been suggested he still holds 60m odd shares.