So the last quarter reported (on 31st July for the June quarter) they spent 2.7 million on development, and forecast to spend 6.5 total for the September quarter.
End of last quarter cash was 3.4 million.
They have stated a couple of times now they intend to divest the Fairway project and a few hints at even the whole business could be up for grabs( BRR interview in September) so a cap raising now does seem interesting, unless it literally is to just complete the planned wells and run the business until jan/feb when they will actively look for a buyer. A small placement perhaps, we wait to see what is a foot...
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