Sorry based on my numbers I cannot see PGO past September without having to raise more cash.
Based on the current spend rate on drilling i.e. $2.7M / qtr, PGO will be out of cash by September.
Latest report showed $4.7M of cash at end of March. Based on the last 12 months of drilling and reporting PGO are spending approx $2.7M per quarter. So end of June the cash balance will be $2M. Assuming they are still drilling, this $2M will only last 2 months.
I see a capital raise will be on the cards in August at the latest.
PGO Price at posting:
32.5¢ Sentiment: Hold Disclosure: Held
