well we do know that something will have to be done about their cash position AT some point but the 2 million should carry them for the drilling in June- more cash will be required to get through 2nd half of calendar year as they become more active.
I would be surprised if they do a rights issue as to get 3 million in cash at say 1c/share they will need to issue 300 million more shares at 1c. which would underpin share price around 1c for now
which would be about 15% dilution...not too bad if they hit some good zones in June.
Plenty of time here to get in and wouldn't surprise if it tries to take on .008 again- have to be patient with this stock as traders are out to have some profitable days
MMM
(trading status: pre_nr), page-10
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