CXO 0.00% 11.0¢ core lithium ltd

Any day now., page-547

  1. 7,494 Posts.
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    Nice one, Crisis. I got a good laugh out of that.

    Tally49 touched on cash burn and that always concerns me. As I recall from the recent quarterly it looked as though we'd have about $4M in the kitty at the end of this quarter, so by the end of February we'd be down to about $2M and on the scrounge for cash again. That's assuming the worst, that MMP approval doesn't come through till, say, February, or later, next year. Then we could face the prospect of a capital raise at about 3c and more hefty dilution. Unfortunately our CRs have been done at lower prices every time and that's hardly a recipe for wealth. Perhaps the drilling this season should have been restricted to BP33 only, in order to bring that resource up to around 2Mt, with other costly exploration left on hold until cash started to roll in from Grants. IF the approval comes through very soon cash burn may not be a problem, since I expect finance to be arranged fairly quickly. No doubt management have one or two plans for that already, once they get the go-ahead to mine. I just feel that the NT Govt don't give a stuff about getting this project off the drawing board ASAP and at best we might see approval the week before Christmas when someone decides to tidy his/her desk before the break. Please, NTG, put egg on my face and grant approval this week.
 
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