They had $3.5m as of September 30 and then the placement for $4m was not completed until after the AGM and shares issued on the 14th of November which would give them circa $7.5m right now.
Not sure how much a $20m spec company needs to have on hand but that is more then most on the asx currently.
Plenty of cash!
Ann: Assays Confirm High Grade Lithium at New Dawn, page-31
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