- Our most recent announcement (screenshot below) shows us drilling around about 4,000m to date... pitiful if you ask me.
I thought this was supposed to be our largest drilling campaign EVA BRO!
- Post Sep 24 quarterly and Oct 24 private placement we had about ~AUD $22,000,000 (ref below image with calcs).
- With the Mar 25 quarterly statement due imminently, I'm keen to see how much of the ~AUD $22m we've spent to drill ~4,000m.
- The Dec 24 quarterly had us holding about ~CAD $15,727,000 cash (~AUD $17,772,000).
So that's a ~AUD $4,373,000 burn in the Dec 24 quarter.
- If you extrapolate the Dec 24 quarterly burn for 6 months, that'll be about ~AUD $8,700,000.
If you annualise the Dec 24 quarterly burn, that's about ~AUD $17,492,000 for 12 months since Sept 24.
Keep in mind that the Dec and Mar quarters are our lowest cash burn quarters due to winter forcing us to stop exploration.
- The private placement was in Oct 24 and we are now in Apr 25; so 6 months has passed.
Our 3 credit raisings under Sam have all been in the last quarter of each year.
We are 6 months away from the last quarter of 2025.
We are probably going to burn ~AUD $18,000,000 of the ~AUD $22,145,000 we had in the bank at Oct 24; leaving us with ~AUD $4,145,000 in the bank for 4Q 2025.
- As always, I'm happy to have my numbers challenged.
However I'm sure I'll only get babel-shill about trusting the drill bit.
I hope everyone had a good Easter break and best of luck to everyone with the upcoming assay results!
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