Below are the previous quarters that relate to the current advanced stage of the projects that Anson holds, there was some land and lease purchases during the September and December quarters and drilling completed in the March quarter.
The big jump in spend rate must have to do with drilling being fully paid for in the June quarter, if not, then the ongoing brine extraction costs and testing has resulted in a substantial increase in operating costs.
Period ending September 2023, 1.9 Net cash from / (used in) operating activities (7,404)
Period ending December 2023, 1.9 Net cash from / (used in) operating activities (7,737)
Perion ending March 2024, 1.9 Net cash from / (used in) operating activities (5,078)
The low end of expenditure based on the current development rates of the Anson projects is 390k a week, high end and probably more probably based on where the projects are at would be 500k a week.
Going back over past quarters into 2022, the drilling on any of Anson's projects has cost around 2 million a quarter for a total of over 7 million for the quarter in operating costs.
No drilling, no land purchase, total spend is normally about 5 million a quarter, much more now due to the advanced stages of Anson's projects.
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