Don't forget, the current $20m is from the raising they did in Dec 2012 & wasn't for common shares. So are the worries of raising at "todays pps price", misguided??? They've already done the raising or issuing. And once again...."end of 2013" and the calcinator(s), is what i'd imagine they had in mind. It looks to me like they've already right sized the raising of capital. Albeit, their bet is that the calcinator, etc is the trick on the contact impurities and are being addr'd to satisfaction like they said it was in the recent filing.

 

http://www.orbitealuminae.com/en/news/press-releases/2012/

Glta !!!

Chris