News: DNK Danakali Says Robert Gordon Connochie To Retire From Board As Independent Non-Exec..., page-3

Not clear what he RM contributed, perhaps he opened a few doors - to no avail.
We can only hope that he is 'retiring' to make way for a representative of whoever is supplying the remaining equity. I would want board representation if I was coughing up $60M to $140M cash.
The LME listing finishes on 23 September - perhaps that is when we will see a finance announcement. DNK can raise about $100M without a prospectus (required by LME) after that date because of the amendment to the constitution at the recent AGM.
The fundraising saga reminds me of "Blue Hiills" the old radio serial that never seemed to end.
Sometimes when you wait for the very best deal, you end up with no deal.