Are you guys serious? As of 30 June, we were expected to have 9-10m cash. We still have the Jervois FS outstanding which will cost $8-$9m plus drilling in Gabinintha and eventually phase 2 of Murchison ($8.6m). Significant value has been added by the Australian assets but it all costs money.
It's a lot safer raising while we have 10m in the bank then in two months time where we would have a lot less. In this environment, have seen plenty of companies struggle because they are running out of money and still haven't raised cash. Then far more dilution will occur. Dilution is annoying but it's unfortunately a part of the game for junior miners in this economic climate.
trading halt, page-7
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