After raising 19.6 million in January the company only had 2,896 million at end of March with a prediction of a cash outflow of 4.6 million next quarter.
At $700 aud cost per oz current production should bring in between $5 and $6 million per month ,all going well.
Any hiccups and the cash burn could increase again and erode the cash in the bank very quickly.
I would like to have a little more cash in the bank to cover any eventualities if it were my business.Hence my question will there be a capital raising soon.
I have sold all my axm last week and will only buy back in when the cash position is significantly better.
Is there anything you can give ne that might make me feel a little more positive about this stock Trader tan?
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