Toledo - Cashflow from the world's 3rd largest Nickel Resource

They have sufficient money to fund the start up of direct shipping. If first revenue is delayed much beyond planned dates, there may be need for a small fundraising.

And the very nature of laterite means that most of it IS just lying about on the ground in pretty chunks.....

hukka - TSX is VERY tightly regulated. FAR more so than AIM. Just look at the NI43-101 requirements for resource companies for a start! ASX appears better regulated than AIM, but never having invested in an ASX stock, I don't know much detail.