Current SOI is 35.5 million. Further shares will be issued...

Current SOI is 35.5 million.

Further shares will be issued aftyer milestones like the PFS and DFS. this would occur when more value is unlocked in the company and hence a higher share price. to include a PFS and DFS issuance now is somewhat jumping the gun.

Just to compare AVL and TMT and this is no knock against them all


AVL
179.6mt @ .75%
Cash on hand $3 mil

TMT
119.9mt @.8%
Cash on hand $4 mil

Compared to

TNO
513mt @.78%
Cash on hand $5.5mil

It's a big difference in terms of size making TNO globally significant and being able to leverage off in country experience from Bushveld.