This is hard to believe.
Cash at 31 Dec - $4.4m
Creditors 31 Dec - $2.5m
Available cash - $1.9m
So if they just paid their existing creditors and didnt spent another cent they would have $1.9m at 31/3 and they have $2m.
Then all the work to complete MRE but overheads. Be shocked if there is less than $2m in creditors.
They need cash and soon - Def this qtr. Prob after Sydney resources round up 9-11 May.
Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-3
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