From the Jun 23 QuarterlySuccessful $25m capital raising...

From the Jun 23 Quarterly

• Successful $25m capital raising completed, with $8.3M applied to project acquisition costs
• Fully funded with cash and liquid assets as of 30th June 2023 of A$17M

The company reported that Australian and International institutional investors strongly supported the Placement. The company believes the funds will ensure they are fullyfunded for its 2023 exploration and studies program at Caldeira. They have said that the funds from the Placement will be used primarily for the exploration and development of the Caldeira REE Project,following the US$5m completion payment for its acquisition.

Net operating cash costs (ex-project acquisition) were about $3.3M for the June Quarter. While I would assume that parts of their cost base are increasing as they gear up to move things forward the $17M in cash (and possible bumps from option conversion) should see them comfortably into 2024.