From last activity report - Last quarter on 31/10/2019
- Cash and cash equivalents at end of period they had: $14.9Million
- Estimated cash outflows for this quarter: $4.7Million
Thus, by the end of this quarter the company may have around $10M in cash.
$10M cash + $60M Sprott funding = $70Million (not enough to complete the development + keep the company going for another 18 months)
We will have to cover that shortfall (around $40million) either with Sprott releasing the fund for acquisition into the development or via Capital raising.
I have a feeling (hope I am wrong) that is the second. No other explanation to why in my view the share price is a bit suppressed and with selling pressure. Thoughts?
News: EMR Emerald Resources Says Mineral Investment Agreement Approved For Okvau Gold Project, page-31
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