Personally i don't think so Crom. Currently they should still have about $3M in the bank. We can say what we like about them in other respects but wasting money on admin is not something anyone could ever accuse them of. After this raising there should be close to $10M cash on hand.
The mining scoping studies at S.N & pre development work at M.B are not going to be a big drain on cash. Driving the decline etc will be. But should be assisted to a large extent by CBH coughing up 50% & the T1 ore they plan to gather along the way.
I reckon there will be a rig back at S.N very soon.
I'll be interested to see if Pitt & Co & SBM have contributed anything in this latest raising ?
Ann: Peel Raises $7 Million to Advance Cobar Deposits, page-11
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Last
12.5¢ |
Change
-0.005(3.85%) |
Mkt cap ! $72.63M | |||
| Open | High | Low | Value | Volume |
| 12.5¢ | 12.5¢ | 12.5¢ | $9.32K | 74.56K |
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| No. | Vol. | Price($) |
|---|---|---|
| 3 | 13445 | 12.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 13.0¢ | 42000 | 1 |
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| Last trade - 10.54am 19/07/2024 (20 minute delay) ? |
| PEX (ASX) Chart |