So they will have $1M at end of the quarter. Which is literally the sum total of all their sales.
BSM is spending $2.5M a quarter over their income. With $1M in the bank end of the quarter, you can work out it won't be long till they are back with their hand out.
But, yeah, so they say their capex is decreasing this quarter. From $836K to $200k in the coming quarter. But it does make me wonder whether they have really bought all they need to buy, or if they will have to buy another truck. Plus, one bad month with the grade or recovery or a plant mishap, and they will be sunk.
I'm not exactly sure that this is a great financial position to be in, living off cap raises and hoping the projected sales come through at the projected prices. Which even if they do achieve projections, won't meet their expenditures.
I told you months ago. So whoever is left, you were warned. If you seem as incapable as the cheer squad at simple addition and subtraction then I only hope you can learn maths quickly.
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