Mildura Site Construction, page-170

Now the challenge will be - this is a massive Capex project and the CAN team will be the first to attempt something of this size in Australia. Whilst we are all hoping this will pay off, the probability is that this could be their Mea Culpa and ultimately their final act before demise. Since there has been no public announcement of any line of credit from any third party lender or credit note from Daddy Aurora, then one can only assume, this will be paid for off their own balance sheet.

When you then look at their most recent 4c and see they had $46M left and were burning $20M a quarter, you realise that they will have to do a capital raise at some stage otherwise they can not finish this project off.

I am highly dubious (and especially with the history of generally heavy expenditure) that they can complete this without killing the whole project. On the off-chance, they can complete the whole project delivery, it could take several harvests before they have any quality crop and make take months/ years of formulating to make a quality product which anyone wants?

This looks like the silver bullet to me unfortunately and as a shareholder, I am torn about whether to sell or hold through.