a. Cash balance at 31st of March $4.7m. Monthly cash burn $1m....

a. Cash balance at 31st of March $4.7m. Monthly cash burn $1m. Therefore as of 31st April would be around $3.7m, less any costs incurred in April and payable in May.

b. Liabilities are mainly Shenton project commissioning. Cost incurred is $2.4m per quarter. Best case scenario project will be finished at the end of the year so approx $7.2m will be needed if there are no more delays. Given completion was supposed to be in the middle of last year, then unless your an optimist it might take longer and cost more. The plant has not even been operated at full capacity so who knows what other issues may arise.

c. Corporate overheads are $0.5m per quarter.

Given the above extrapolation, ANQ will need a minimum of $8.7m if everything goes perfectly with the project, just to reach the end of the year, having approx. $3.7 in the bank now, they are well short.