So end of June quarter they were down to AUD $15.521M cash.
End of September quarter they were down to just AUD $6.051M cash.
I think that justifies their decision to do a raise. They spent $9.47M ( $15.521M - $6.051M ) in the September quarter. As I speculated ( Post #:56911388 ) delays in assays and the ramp up of drilling activity led to a fairly high cash burn in the September quarter.
The majority of that spend ( 88% = $8.43M / $9.47M ) was on exploration & evaluation:
Ann: Quarterly Activities Report and Appendix 5B - 30 Sept 21, page-3
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20.0¢ |
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Mkt cap ! $42.47M | |||
| Open | High | Low | Value | Volume |
| 19.5¢ | 21.0¢ | 18.5¢ | $34.31K | 180.4K |
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| No. | Vol. | Price($) |
|---|---|---|
| 1 | 5000 | 19.5¢ |
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| Price($) | Vol. | No. |
|---|---|---|
| 20.5¢ | 5216 | 2 |
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