Ann: Quarterly Appendix 5B Cash Flow Report, page-2

WKT certainly needed the bridging loan from Directors and shareholders.

The Cash balance without these funds was down to $456k.




It is well worth reading though the ASX aware notice that was released on the 28th of Feb.

3. Please confirm the factors that gave WKT a reasonable basis to confirm that its Board believes that the
funds raised from the Entitlement Offer, combined with existing funds, would provide WKT with
sufficient working capital at anticipated expenditure levels to carry out the business activities proposed
in the Reinstatement Announcement.


As noted at the time of reinstatement, the Entitlement Offer provided sufficient funds to pay creditors
in full, undertake project advancement as described in the Reinstatement Announcement and provide
sufficient working capital for at least 12 months. The further financing arrangements (referred to in
response to question 1.1 above) have provided a basis for the Company to expanded site construction
activities in addition to the activities described in the Reinstatement Announcement.

The Company’s arrangements with Jinpeng and TNR have resulted in reductions in contract value,
deferred payments and the potential conversion of debt to equity. These contractors represent more
than two-thirds of the remaining construction spending required. Similarly, finalising the BMCG facility
and the ongoing negotiations on other funding routes has only increased the Company’s confidence that
it has sufficient working capital at anticipated expenditure levels to carry out the business activities
proposed.When you consider WKT corporate costs in the March QTR was $692k, WKT cash balance in the current QTR report, would have only allowed funding of operations for another 2 months, without paying directors fees, or any additional development.

Anyway, It will be interesting to see how long WKT current cash balance and bridging loan can last and the outcome of Gemcorp's funding.