hi red, I expect a further placement will be done well within the 12 period, if the current outgoings are not bought down to 5 mill per quarter. Even at 5 mill per quarter this will burn 20 mill and require a top up as a buffer.
At a cash burn of 7.5 mill per quarter this will see it visiting the ‘well’ in the next nine months.
Coming up to the pointy end now and not sure if the 5 mill cash burn per quarter will be enough to keep this progressing as quickly as the company would like.
Very interested in the answer to anticipated outgoings for next 3 quarters, at the ongoing 10 mill that’s only 6 months before funding will need to be sourced …. again.
That 10 mill outgoing was a graphic reality check at how quickly funds can be used up.
AVR Price at posting:
$17.11 Sentiment: Hold Disclosure: Held
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