" The key issues identified to date are lack of procurement and...

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The key issues identified to date are lack of procurement and engineering oversight resulting in delays in design and manufacturing of key equipment, delays in piping and electrical procurement, quality control issues including substandard electrical works that require modification and delays in selecting the shipping method of key equipment. Total cost to complete the Project is under review, however initial estimates indicate an additional ~US$2 to US$4 million increase from the original budget of US$28 million (ASX Release: 11 May 2017)."
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1) Now another USD$4 Million needed to upgrade
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2) Cash and Bullion : Looking at the quarterly report almost all money raised via CR gone to MACA as penalty for breaking contract plus employee compensation just to same $1 Million a year. Sounds pretty stupid thing to do
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3) Looking at Cash Burn Rate of around 10 Million plus 4 Million Additional for Plant Upgrade = US$14 Million Each Quarter, not much time left for another Major Capital Raising.