The latest quarterly indicates around half the 20m IRL raised has been used as an equity investment and a loan, both of which I believe went to a Canadian junior miner with good ground in India.
I thought the purpose was for capex on the plant? The plants up and running so does that indicates perhaps they over-budgeted? Seems a slightly strange strategy, to do a major dilution and then lend out a 7 million dollar loan not long after. Any thoughts?
use of cash
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