Like any company that goes into production, it’s not what is in the kitty that is used for production related infrastructure. Generally companies either find a cashed up JV partner and/or separate finance package.
I do agree that cash burn is high, I hope they can work on limiting admin costs, at least until we prove up a decent resource!
The Options getting in the money will deliver $4M plus from memory so management need to deliver some decent copper assays at revere or better Li assays from the upcoming phase 2 drilling at Mt Edon to ensure this share price re rate takes place before 31st October. A lot of money for the company up for grabs!
Ann: Quarterly Cashflow Report - June 2023, page-3
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