As of 31st March ENV had $879,000 in cash plus $1.5M from the capital raising
Use of the $1.5M is outlined below (Not for Brazil)
So only $879K left for Brazil and that is the cash they had 2 months ago.
So how much have they got now? $500- $600K ?
For an active exploration company, $500- $600K is peanuts and gets burnt very fast.
Seems only logical that another Capital Raising will be required, say before EOFY.
Do the math.
Another Capital Raising Required
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