I don't think they have $25M do they? Ended last quarter with $21M cash and bullion.
Cash burn on the last quarter was $32.4M - $21M so $11.4M. Say they were in operation for half of this quarter under similar conditions so cash burn would be approx $6M. Then I assume they would have needed to pay for redundancies etc. say approx $5M (based on 200 workers getting paid out 6 weeks salary or $25k).
So my guess would be they have about $10M cash best case.
Very rough, but I can't see how the cash position would have increased.
WGX Price at posting:
85.8¢ Sentiment: Buy Disclosure: Held
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