Whenever these guys sign a financing deal I always think to...

Whenever these guys sign a financing deal I always think to myself about what is the catch? Or "what is horrible fine print?" I solved that problem by selling ages ago and retaining a small free carried interest.

Funds to keep the office lights on until the SA Dept grants the mining lease? Once the ML is granted then the $3.5M payment from CMC is triggered, at least CMC is also motivated to get the permitting done as it keeps them busy and puts them into more work/production once the mining lease is approved. Timing of state governments regulators approving ML applications is notoriously slow and unpredictable although SA isn't the worst it ain't the best either....