RE: RNS...4 May 2018 11:33
Your right looks like first metal wont be in June 2018 as per March update but Summer 2018 on the plus front it has confirmed cold commissioning has started and hot commissioning will start before end June.
Cost has gone up form $109 (Jan 2018) to $112 (May 2018) but we should be able to put a lid on this shortly with the plant complete (wonder if its due toe exchange rates again?). I wonder if the additional funds raised in March "will provide $30 million to be used for a combination of project and trade finance for SPMP" will cover this shortfall.
Unexpected expense / insufficient cash / fundraising - I think will be covered without the need to raise additional funds. They have to call this as good accounting practice and with the loan being extended it does seem that ODEY / TSTR / SPMP are working closely together in each others interests. That said your right to identify it as a risk.
Personally, I'd like to see us producing before we even contemplate raising any cash if we have to.