I'd usually see a failed SPP to be disastrous. As with the...

I'd usually see a failed SPP to be disastrous.

As with the extremely short dated options, we're in an unusual situation in that the share price has struggled due to lack of funding but then got beaten up more when potential funding did appear.

The latest placement was completed with the belief that there was another ~$40m coming through SPP and RCF financing.

If that all falls through then we're back to where we were before the RCF announcement but with another $20m in the bank, and some new shares and options. Come July 31st the short-term options will expire so the only difference then is the extra shares.

So arguably in a better position than 1 month ago.