Ann: Mineral Assay Results for Muchea High Grade Silica Flour, page-11

I get why cinnebon is ploughing on and looking to the future with this stuff but seriously, at best it will be at least three years before Anth yields any real net income. Muchea at best would be 3 to 4 years post a nth because there simply wouldn't be enough cash availablle to do anything useful at Muchea.
VRX will probably hold a debt of $50-$60m on Anth and good luck finding another debt facility to cover the building of Muchea which would likely be the same or dearer. The market cap would need to be huge for any decent finance arrangement at that point. That is, to carry over $120m in debt when net cash flow is - well who knows at that point.
My point being, that spend on Muchea now should be minimal and head office costs should be minimal until the EPA has made their decision on the next stage.
Cinnebon, you are trying to act like BHP and think you can just spend, spend and spend.
Do shareholders a favour and produce a 3 year forecast cash flow statement so we can all get an honest view of what you are expecting to spend, borrow and CR.
I'll wait until the March qtr cash flow statement is released before estimating when the next cr will be, and there will be another one or two. A public company in its infancy needs lots of cash and must hold at least 6 months cash / facility in reserve or it is likely to fail . A lack of cash is the root cause for most liquidations.

imho & dyor