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Re-Rating: General Lithium & Mali Lithium, page-50

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You3OAte

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07/06/19

19:52

Post #: 38967909
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Originally posted by manny100: ↑

Just had another look at the Cash flow statement as at 31st March.
$4.13 Mill (say $4.1) in the Bank at 31st March.
Estimated Cash outflows for this quarter (to 30th June) are $1.45 mill, say $1.5mill which includes $795k for exploration and evaluation (e & e) (March Q $1.445m). e & e shaved by $650k this q.
If we get around say, $900k ($990k last q) in Gold royalties we will have a cash balance of around $3.5 mill in the bank at the end of June.
$4.1 less $1.5 expenses plus $900 royalties = $3.5 million in bank at 30th June.
Admin and staff costs will be around $600 to say $700k tops per quarter. So if e & e costs are kept to a minimum the cash should last for a quite a while. The e & e costs for the June q are estimated to be $640k less than the March q.
In theory if we spend say the very top end $700k per q on admin etc and around say a low $500k on e & e and can maintain say a $900k gold royalty we will only be around $300k net out of pocket per quarter. Compared to around forecast 3.1mill in bank 31st June
So going forward from 1st July barring unexpected expenses the $3.5 mill should last quite a while. Of course that is the minimum position.
If offtakes, permits and finance is in place the SP would be in a good enough position to limit dilution on a much later CR.
Providing we not need to spend big money on e & e as we did in the March q we should have enough money to last for quite a while.
Not sure how much the Water and Roads evaluation will cost. This will come out of e & e money.

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Great, stop the only activity that's likely to contibute anything to the project. No E and E means BGS continues to drift. I've said this before, despite what Chris said, a CR is required to get everything done. Saying that "a CR is not required this year, if at all" is folly and will bite him in the ass in the next 12 months.

The bit in brackets is paraphrased from a previous poster who provided feedback on one of the recent meetings.

BGS Price at posting: 14.0¢ Sentiment: None Disclosure: Held
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0 Great analysis

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Re-Rating: General Lithium & Mali Lithium, page-50

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