snakepitt the funding side of things is one of the variables...

snakepitt

the funding side of things is one of the variables that hopefully will become less " variable" as more info is released, as to the cap raising whether it's later this year /early next year it's a guesstimate related to any financing arrangement for mine build
my hope is that they get 100% debt finance for mine build and so the cap raising will be for general working capital and perhaps a certain level req under a loan agreement and thus just a relatively small raising

your figure of $7-$10 mill could well be around the mark

one thing I have learnt over the years is that no matter how well planned things are sometimes there are complications and that's where a good amount of cash buffer is advisable/required, companies can either raise the cash before hand in a more controlled environment or in a panic when things haven't gone to plan and there is much more dilution and possibly can't raise the cash at all!

case in point , I currently have shares in a company that are constructing a mine and came across unexpected ground conditions which slowed things down, they did a cap raising( not in a panic as they had a reasonable level of cash ) but to ensure they didn't breach their loan agreement and as insurance just in case of further issues

no company that I know of has gone bust because they had too much cash!

anyway just my thoughts/opinions/ideas , I could be proven wrong, it certainly wouldn't be the first time!

cag