Yeah they would have closer to $60m cash on-hand, so that makes cash backing at around 25.5 cents.
Should their EPA appeal fail, the way I'm viewing my recent investment in BAU is like buying into an IPO with a very advanced project and $60m in the bank.
The local group behind all this hostility has a just case as they feel that there has not been sufficient consideration placed on the environment. That said, the group has publically declared that they are not anti-mining. BAU's primary objective has always been to go from explorer to miner in record time, but sometimes it's just not a good idea to rush things.
cash update ?, page-7
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