Will IXR have $9.5m in cash = 1.15c a share?

Just looking over things and realised with IXRs Ntaka Nickel Hill sale the company will end up being a cash box?

IXR had cash of $1.4m with a further $200k receivable but expected to have cash outflows of $1.35m so really only had $250k prior to this placement
This placement $1.5m so cash is $1.75m

But IXR are due to receive $6m US which is close to $8m AUD say $7.75m from the sale Ntaka Nickel Hill

"The revised transaction structure incorporates an increase in the overall cash payments to US$6M
(previously US$5.88M), but with revised payment terms that include an upfront payment of US$2M (‘Upfront Consideration’) upon receipt of key regulatory approvals and US$4M (‘Deferred Consideration’) payable
following successful completion of additional geotechnical studies."

So IXR will potential shortly end up with $9.5m in cash alone and at 1.3c will have a market cap of under $11m

Please check my figures and tell me if Im wrong