Guys if we want a fast track to JORC and to keep the drilling going to 15 holes then we will need some money, two drills and more holes before the end of year Options conversion. Now there is the 5 mill Loan they can take out, but will they do that or do a CR to a single sophisticated investor (wish it could be me). So yes while the 5 holes are fully funded i'm not sure if the Loan or a CR will be better. I cannot see all the options being converted before time as why would you.
Either way its not really a concern as they will need more money some time before the end of the year.
Hopefully they drill one more hole AND get taken over at $2 a share. and thus no capital raising.
Galan Lithium - Cash and Funding -Fully Funded!, page-7
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