We ended the quarter at 3.2 M$ cash with a burn rate of 1.6M$ per quarter.
The cash is enough to last us another 2 quarters (until june 2018).
Plant will be in production and sales starting march 2018 and in full production and sales of highest quality premium priced large flakes (6000 tpa) in may 2018. We may not need a further cap raise if we achieve cash flow positive status starting may 2018.
However, IMO the cmpany will choose to do another cap raise in may - june 2018 in order to stay safe cash wise providing enough buffer for working capital, financing lithium drilling and most importantly financing studies for stage 2 expansion to 20.000tpa. Hopefully by may-june 2018 the cap raise (2M$ ? 3M$ ?) will be done at a much higher stock prices (3c+ ? 4c+ ?)
Another possibility is that if we get lucky and the stock price rises quickly to 4c+ over the next two months, then options will get exercised and we wont need anytime soon any further cap raise (until financing stage2 plant construction by end of 2018).
