As at the end of last year, there was only $80k left in the kitty (and only $160k left to drawdown on the $4.5m loan). With only $240k left to play with, OAU estimates that they will run out of money by the end of next month. They are obviously timing the capital raising (or debt funding) alongside the AGM. Anything can happen until then, so the big risk is that OAU could go belly up before they raise more funds. I'm certainly not impressed as to why they have left it so late and are walking a very fine line.
Ann: First Quarter Activities & Cashflow Report, page-2
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