RE: FIRST PRODUCTION RNS Incoming!14 Oct 2024 08:07
Adwl 198 - Matad had enough money until MAY 2025 and to get Heron 1 into production before the raise, so let's say to get Heron1 into production is $4m plus they had working capital money till MAY 2025 (I don't know figures for working capital).
The raise of approximately 8.5m is in additional to the above money to get Heron 2 in production ($4m) plus to drill Gobi (1.5m), so if you work it out the company should have over 2.5m -3m in the bank which is excluding future revenues from Heron 1 and Heron 2, that's why buck said we wont need another raise.
Watch the presentations and read the RNS's, Hope this helps mate.