Ann: $102 Million debt funding terms agreed with KfW IPEX-Bank, page-9

If you look at the guys behind the corporate finance of the NAIF $74mill and this $102mill (BurnVoir) you will find they are also the guys that helped PLS get finance to start their plant and construction a couple of years ago.

Back then PLS also needed to raise money via equity in conjunction with debt finance. From memory I think the equity raise was at 34c. A lot of stock churned around 40c but it never went back to 34cents ever again.and took off to over a $1 leading up production.

Capital raises have to be looked at with the context of the raise, as I find juniors raising money to explore and put drill holes in ground are more vulnerable for the price to go below the capital raise. Even the last raise for KLL at 30.5 cents churned stock below this level but now the company has had game changing announcements since then and well, the current price tells the story that the company is now at a more mature stage of it's cycle and the type of investors that will get on board now are after a bigger payoff than a few cents.