As of 30 June 2021, GL1 had $8.8m cash and marketable securities. They raised $13.6m in Nov 2021 and paid $6.5m cash to BRB for the acquisition of an 80% stake in Manna in Dec 2021.
That means the company would have a cash balance of around $15m taking into account $1m of other operating expenses since 30 June 2021, which I believe would be just enough to cover the drill programme for both Marble Bar and Manna.
Following the capital raise, GL1 will have around $45m cash, which can be used to accelerate the exploration programme further and / or make another acquisition.
Ann: Trading Halt, page-26
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27.5¢ |
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Mkt cap ! $71.57M | |||
| Open | High | Low | Value | Volume |
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|---|---|---|
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