Had $16.94m not have $16.94m. The September Quarterly balance was $16.94m. It also showed that last quarter $8.5m was spent across operating and investing activities.
Any expenditure level close to $6m in the Dec quarter would have created an under 2 quarters remaining cash at current spend levels flag. GT1 must be pretty close to spending $6m in the quarter. So assuming stevenrushbrook is correct and 99% of the time when details that precise are given they are correct, GT1's bought time for the share price to improve for the larger capital raising exercises needed for Seymour. This CR probably should have been done a month ago!!
Lesson learned, however much you like a company, the double witching of shares coming out of escrow and probable near-term capital raising can severely dent the short-term share price.
Now we just need to see whether the news of the PEA / Mining Lease is strong enough to offset the negative's of low price capital raising.
