Loki,
I don't see any reason for a CR. Some back of envelope calcs below
Closing cash $23.4m
Sales revenue $135m (see my post on 9/5)
less production cost (81.5m)
less corporate overheads (4m)
less finance cost (3.5m)
less royalties (5.4m)
add tranche 2 raising 32m
less loan repayment (22m)
less lease repayment (8m)
cash at end of June qtr $71.4m
Even if they spend $20m on exploration, there is a lot of cash sitting in the kitty.
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Loki,I don't see any reason for a CR. Some back of envelope...
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