just exploring the possibilities here, So all up potential Gross of $20.844m in the kitty with part successful Capital raise. The CR raised $16m + $1.926 = $8.074 left to find for the $10m target. So $17.926m was successfully raised. What are the fees with the CR?
I found this in the prospectus. Canaccord and Euroz Hartleys Fees of 5.0% of the Gross Proceeds raised under the Placement Corporate Advisory fee of 1.0% of the Gross Proceeds raised under the Placement
$17.926m - $1.07556m = $16,850,440 raised The remainder $8.074m would be $484,440 in fees
$16,850,440 + $2,918,000 cash June 30th = $19,768,400 Approx 3 to 4 quarters of cash on hand but if delayed by more than 6 months will require another CR for the finance process
IMO the cash burn would likely be less than $5m per quarter esp if some of the workforce is let go. What current $$ outlays are there? Feel free to add thoughts @FreeflyerNZ. Maroochydore is drilled, Nifty is drilled, Nanadie is drilled. Further lab results for Nifty sulphides? Revise Maroochy 2016 JORC Cut-off Grade of 0.5% Cu & Cut-off Grade of 1.1% Cu to be like Hollandaire 0.3%? Government approvals results/fees?
1 off expenses done eg: Yard Crane is bought, some site refurbishments completed (donga's upgraded, 4G upgraded, SX-EW tanks cleaned, stores and spare parts sorted, concrete batching pad refurbed etc). Not a lot left to do until finance is approved and construction begins.
CYM Price at posting:
11.0¢ Sentiment: Buy Disclosure: Held
