Interesting, RFX had $9m down from $13m previous quarter and commitments to urgently get funding together for their heavily committed project but this funding in this market failed to materialise.
Hence the company could not continue as a going concern. I don't like to speculate but sounds a bit like GLN and ASN in its current financial form actually, GLN would be out of cash very shortly and ASN running fast out of cash and then they will be chewing through the $30m loan because unfortunately ASN are heavily committed to Paradox after spending such huge sums there.
This is the problem as I have been saying when companies like RFX, GLN and ASN go full on spending on exploration, and don't see the dark clouds bearing down on them in a seriously changing adverse market conditions such has happened to these 3 companies.
Luckily MAN has no commitment in Paradox, and the little MAN do have in, well they have Electroflow doing all the spending on pilot plants etc.
This could serve as a serious warning froggy to both GLN who are just about put of cash completely, and ASN who will be all through their cash shortly and into the $30m loan because they committed to hard without understanding lithium markets could end up like this
