Qtrly report shows cash at the end of March was $14.7M. The recent presentation on 18 June shows cash at the end of May as $5.3M.
We can then say that there has been a net cash burn of $9.4M over 2 months. There may well be a reason for this in that capital expenditure may have been paid in cash or loan capital may have been repaid etc. but on the face of it, there appears to be a source of concern.
The above figures do not include the amount of receivables which may impact the total position, but this does appear to be a bit of a concern in the absence of any explaination.
Any thoughts?
suppression of mining stocks to acquire later, page-10
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