Ann: Update on proposed sale of Lake Johnston, page-47

No worries, B.

That $2.86M closing cash balance was somewhat masked by ~$1.5M of non-recurring income for the quarter (i.e. $1M (net) from MIN + $465 R&D tax refund).

Underlying recurring quarterly cashflows are more like:
$2M cash out offset by ~$400k cash in (i.e. $200k accomodation revenue + $200k sundry revenue)

Dunno the sustainability of those offsetting revenues, but let's be generous and call it ~$1.6M net recurring cash deficit per quarter for the time being. That will approximate a balance of $1.2M come end-June, if the MIN situation hasn't beneficially resolved by then.

Remembering that the Board can't/won't let cash run down to zero, that would suggest a CR during July -- just in time for the new FY 15% share issuance clock reset. At current pricing (incl. likely discount) that would raise a max. of, say, $2.1M (assuming the appetite window is open) or enough to last a further four months before repeating the cycle, but not without obtaining SH approval to raise/dilute further.