RE: RE: I think we already have the answer....why Correct me if I'm wrong, but should Teck decline, doesn't CCY have just 60 more days to provide the $20 million to buy the full 100% of the project?
And if that's the case, they only need enough $ on hand to cover the next two-three months, until they can secure a partner. The assumption being that they will sell some percentage of the project (guessing 40%) for a lot more than $20 million - which will not only provide the cash needed to make the purchase from Teck, but fund CCY for the foreseeable future (and IMO drive the SP considerably higher).
So, the $600K PP is really just a stop-gap to help pay the admin bills while they travel, meet, conference and negotiate with potential partners (and with Greenslade's connections and his trip late last fall, that new partner could be a group from South-east Asia). At this point, I'm optimistic that no further dillution will be needed. That seems to be the intent of management and why this recent PP was such a small funding amount.