I'm not surprised to see the September Quarterly being slipped in late on a Friday after market close. There's nothing in it to cause excitement. It's just more of the same. We've heard it all before many times. Critically, cash continues to be burnt at a decent clip so it's not surprising that we were down to our last $109k as at 30 September. If we're burning around $150k cash a month, then currently, we have no more cash left. To add insult to injury, we are already $4m in debt on the fully drawn down secured loan and only have the $500k unsecured loan from which to draw down and survive this December Quarter. Given the need to spend money on the upkeep of the tenements and how they have spruiked supposed 'new' targets in this September Quarterly, it's almost certain that a CR is around the corner. I can't see any CR being for anything more than half a cent. Will they have the guts to come back to us and rattle the tin cup for more? I definitely will not be putting any more money in (I may reconsider if the Lender converts all the debt it has over the company into equity). With no cash left, and with the company poised to be in debt to the tune of $4.5m, and with no deal to toll treat ore anytime soon, you need your head read if you want to pore more money into this company IMHO.
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