Pints, I am sorry, but I really don't think you can be sure they are going to be sitting on $43m.
They raised capital, because, the debt facility was not fit for purpose (logically, too small), and they are currently not profitable (though that has not been actually stated) IMHO.
So my guess is that the cash position, post raising is closer to $30-35m. Might seem low, but... they are rushing to strip a pit that was not supposed to be touched for 12 months. I also think it will be lower still by the end of the quarter, and hopefully then, start recovering.
Sure, this could be a great turn around story, but... keep grounded. I know for a fact, my biggest losses are always with developers...
(that is just me personally though!)
Ora Banda Mining (ASX:OBM) set to undertake $21M placement, page-4
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