So Hartley's have identified A$15M of working capital for Stage 1.
If I assume a $15M raise at current levels, I get a fully-diluted share issue of 2.37B in 2023.
Hopefully BAT can somehow get some traction in the share price. Hopefully with a bit of luck they can generate enough cashflow to predominately fund Montepuez Stage 1 and Balama from debt and limit further equity raises.