It seems smart money with deep pockets (Huayou ?) wants to see...

It seems smart money with deep pockets (Huayou ?) wants to see more "meat on the bone" before they make a TO offer or finance NZC the necessary mining capex.

If there had been a realistic chance to finance 53 USm$ for stage 1 at present time and at current project development level management/Tembo had for sure grasped this opportunity. Obviously there was no chance.

There is for sure something like a hidden agenda with this cap raise agreed between Tembo and Huayou
It should be the strategic interest from Huayou to secure as much cobalt as possible in the fastet possible time. Imo this doesn't fit to the official Nzuri strategy "start with stage 1 and wait some years until we made enough cash flow to finance capex stage 2 without dillution".
I guess Huayou is not willing to finance stage 1, but is willing to finance stage 2 (or take over the whole project) when stage 2  is hardened with a FS and a ressource increase - what means more fresh short term money is necessary.
Maybe i'm wrong, but in this context the current cap raise could make sense.

@binwood
Congratulation to your heart. Well deserved

@Aka23
I hope also that non Aussie/NZ-investors could take part in SPP. They chosed a Canadian broker, maybe a good sign.
On the other hand with current SP at 26c (day low even 25c) it's not dramatic if we German investors couldn't take part. It seems there are enough opportunities in coming days to buy around cap raise SP on market.