1, I'm not making up numbers at all, I'm going off the last quarter report which showed 1 and half years of cash left which included using up the $30m loan.
I believe you are way out we shall see, cash burn will be high due to activity and wage and administration costs so I feel the quarry coming will show max $8m including the $5 m raised recently.
Lets say you are right with your figures, it doesn't change anything because I was referring to Ev(Earnings Valuation).
At a current MC for ASN at $100m, even on your figures bits and Ev of $87m which imo is just way so high for a company not producing that $87m Ev is imo unsustainable ,and will come way down as the SP declines.
An Ev of $39m which is still a bit high would give a MC of $52m on your cash projection, which is a share price of 3.5 cents for ASN.
We will see.
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