Kippax said: "Spending about $1M per annum and we have $2.5M in the bank"
Unfortunately it is nowhere near that good:
The Half Yearly Report shows payments to suppliers and employees (less interest) of 800k for the HY (836k PCP)and net exploration costs of 1224k for the HY (423k PCP). So if they actually do any exploration this year annual cash burn closer to $3-4 million, therefore only enough cash for the remainder of 2012 at best, without another cap raising or additional government grants.
I know there is some Parnalana JV and grant funding available but where is PTR's share to come from???
The capital cost estimate for the Clean Energy Precinct is $1500 MILLION- good luck with that!
PTR Price at posting:
7.7¢ Sentiment: None Disclosure: Not Held
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