Funding2228 GMT - Jervois Global likely needs more funding from the second half of this year, Jefferies says. Jervois ended 2023 with US$45.4 million in cash, but a June deadline to make a US$12.6 million payment to Companhia Brasileira de Alumnio looms. That payment, already deferred once, was agreed when Jervois purchased the So Miguel Paulista, or SMP, nickel and cobalt refinery in Brazil. Jevrois, which was operating cash flow negative in 4Q, also faces continued high-interest payments while Chinese cobalt exports into the global market are suppressing metals prices. "Key to growth for the company is restarting SMP, which hinges on concluding a financing partnership," says Jefferies, retaining a hold call on the stock. (david.winning@wsj.com; @dwinningWSJ