CNO 4.55% 4.6¢ conto resources limited

assays, page-80

  1. 3,541 Posts.
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    Est. cash burn $0.7m in current (Sept) qtr.

    So cash expected to fall to $600,000 at end of Sept.

    We should see them drill on that black smoker before then. Plus they will do down hole EM and drill on those targets maybe 4th Q.

    By then it doesn't matter what the cash is, it will come down to whether they can find more metal.

    I'm backing them to do it.

    IMO today someone told their broker to sell their 800T holding at a 6c limit, and Mr Plonker broker (Macquarie he he?) put the entire order on at 6c. I saw it happen. Client then phoned their broker and said don't put it all on at once - doh.
 
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