TG6 presentation 1 May 26 has $2 m in cash and receivables but has about $300,000 - $400,000 minimum expenditure on Lake Johnston tenements so for ease of math lets say they have about $1.5 m then lets take away quarterly staff, office, current Van Uden exploration activity costs ??? $500,000 so maybe $1m left in cash and receivables.
If TG6 is going to develop Van Uden its going to absolutely need a credit raising prior to moving anything ! I would be happy to participate in a capital raising subject new JORC 2012 statement and it being good.
Please note the above is IMO and only assumptions / guess.
TG6 Price at posting:
10.5¢ Sentiment: Hold Disclosure: Held
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