ICG might have $500k cash as at June 30, with proceeds from Mt Isa due in next 2-3 weeks, taking total to say $1.2m
If Mac Creek delivers the goodies and has a material effect on SP, then BOD may be inclined to start drawing down the $500k loan facility sooner rather than later.
The $200k grant from NT government to drill Fable is a part reimbursement made after it is drilled [with drilling needing to be completed by Dec 31] and ICG will need to have say $400k cash before drilling - if retaining 100%
Am thinking a decision on Fable drilling going ahead or not, to be made after Mac Creek is drilled.
[as previously posted, Fable is a great candidate to JV, knowing $200k is available from NT government , with any JV decision by end of August}
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