They still need to raise more equity to trigger the RCF loan (needed to raise around 28.3m from memory). Placement raised 20m, SPP is not going to raise anything at these prices.
Very strange they didn’t raise 30m so they are fully funded. Anticipation of another CR in the next 3-6 months will cap any price rises in the medium term
Ann: Battery Minerals raises $20m to continue building Montepuez, page-27
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