Still a fair bit of cash in the bank at quarter end. Drilling estimates for both white dam and the basin is a few mil. That leaves us $5m or so which should cover the acquisition and that doesn’t account for the $4m or so NOVO shares we have which can be sold in the next quarter. Remember white dam is also cash flow positive so will chip in too.
Reading announcements and other forums I expect a strategic raise in the order of $10 to $15m later this year at higher prices than current to drill the shit out of the basin and develop studies for White Dam and the basin based on an upgraded JORC.
GBZ Charts &T/A, page-14
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