spp price. discuss, page-3

No explanation needed, you're 100% correct. They've placed 1.4mill already. If there is price movement in the short term, some SH might jump in at 1.6.

So as of now the cash position would be circa $3.5 mill. In all honesty, I see this as appalling timing rather than a major setback, as it was always a cash-tight operation (I'm talking cost of growth, not cost of operation-apparently covered), I also think some management 'skin' is overdue. i.e. participation in the SPP (assuming regs allow?).

Management have outlined a strategy that has merit, but would probably have achieved more market engagement has it been outlined from a position of strength.

There is no more leverage left with which to go cap in hand to anybody. Therefore, I think its a safe bet that the next step will involve a strategic third party (FI, JV, GSA etc).

Having said that however, It may be possible given recent funding stories around the place, (to get modest debt funding of say 4-6mill, to close the gap to the $8mill, then meet the program outlined in the last ann. If they can get to that point, we're back in play.