The announcement says CR; that to me indicates that...

The announcement says CR; that to me indicates that cornerstone/strategic investors have passed on the opportunity else hard to see those sort of investors happy to sit on the sidelines while their potential investment gets diluted by some unknown amount for some small CR.

The only hope is that mgmt don't burn through this cash and put some of it towards progressing tanzania (although they still owe C4V money, and possibly MNS is covering the IM3NY costs given no other party seems to have actually put any money in, so $5m would be a minimum, but that will not last long).

Clearly mgmt have boxed themselves into a corner leaving it so late.