kah interim results, page-2

After all the speculation regarding the number of shares which will be in issue if the merger goes ahead, I'm surprised that there's been no comment now that KAH have issued the following statement;

"Financials
On 14 April 2008, we announced that a placing of 46,080,000 New Ordinary Shares to raise £14.4 million at 31.25 pence per share was completed. Use of funds to date has included increasing the Company's stake in Extract in April and continuing work programmes at the Company's base metal projects. Kalahari currently has £5.25 million cash in the bank and post merger, it is expected that the Enlarged Company will have £15m in the bank with a market capitalisation of over £100m.
We have welcomed major new institutions to our shareholder base and we look forward to the combined, strengthened international shareholder list following the Reverse Takeover of Extract. In particular Rio Tinto which announced on 11th September that it had taken a 14.9% stake in Kalahari. Additionally Rio Tinto took a 10.9% stake in Extract which will, post merger, result in Rio Tinto holding 16.55% of the Enlarged Company. "

Rio holding 16.55% post merger indicates that there would be 373,878,049.56 Shares in issue
23,162,192 * 1.6 = 37,059,507.2
37,059,507.2 + 24,817,310 = 61,876,817.2
61,876,817.2 / 0.1655 = 373,878,049.56

The above also gives an indication of cash burn rate.
If KAH spent £5.7m - £5.25m = £450k between 1st July and 17th September, it annualises to approx £2.1m.
If the merger takes another 2.5 months to complete then KAH would be contributing £5.25m - £450k = £4.8m.
Total cash of £15m - £4.8m indicates that EXT would be contributing £10.2m.
The news release on 5th September said
" As at 30 June 2008, Extract had cash resources of approximately A$32.4 million ",
Using the same exchange as the news release
" at a £:A$ exchange rate of 1:0.47"
A$32.4 million" = £15.228m,
Therefore EXT's cash burn for 5 months from 1st July to 30th Nov when assuming completion at the end of November
("A meeting of Extract shareholders to approve the Scheme is expected to be held in November 2008."),
would equate to £15.2m - £10.2m = £5m (£1m per month or £12m per year.)
There are many assumptions here (with obvious potential for compound error) but his should be a worst case scenario as the burn rate would be lower if they've assumed the merger will be at a later date.
My reason for trying to extrapolate the cash burn was to estimate when the next fund raising might occur. It would be rather foolish to completely empty the pot before topping it up, so I'd expect another cash call some time before July.
Can anyone tell me when EXT are next due to publish accounts, and as always can you point out any major errors in the above. TIA