Last Quarter ANQ spent $3.12M, or a little over $1M/month. Additionally they have also drawn down $1.4M from the MND loan facility.
Therfore as of 30th of June ANQ had $1.64M in the bank, assuming the cash burn remained unchanged in July, this would leave $640,000 plus the remaining $2M MND facility as of today. Without rasing additional capital, and assuming the current cash burn is maintained, ANQ only has funds for approx. 2 months worth of operations.
ANQ Price at posting:
0.7¢ Sentiment: None Disclosure: Held
