Agreed, but KLL payments to Smoothy for "construction and salt harvesting and haulage services" were only ~$0.9m a month in the first six months of this year accordingto their quarterly's. In addition, at that time KLL was also selling its SOP for much higher prices than today ($1,016/tonne FOB in the March 2023 quarter & A$909/tonne FOB in the June 2023 quarter).
There are still reasonably substantial costs required for gas (power station), running of the camp, charter flights, salaries etc. May not be $4m / month, but even at $2m / month, 9 months ramp up = $18m working capital or a similar amount to the actual purchase price.
Remember, KLL burnt through $50m in the Oct '21 cap raise, $30m in the Aug '22 cap raise and $10m of NAIF funding in Feb '23. All I'm saying is S/H shouldn't think this is only cap raise that's coming from RWD and need to be aware there could be more.
RWD Price at posting:
7.0¢ Sentiment: None Disclosure: Not Held
