@$ man
You are correct! CXO already has over $693 million issued share capital. Cash report as @ 31 Dec 2018 suggest estimated expenditure of $2.2m for the March 2019 quarter. So, not enough money for production plant and mine development. You can assume some CR in June 2019 quarter!
Another point that you may say a kind of criticism is scattered pegmatite i.e. see figures in CXO activity report dated 30 Jan 2019 i.e some are six meters thick at a depth of over 150m and CXO management is looking to mine which would be highly un-economical with lots of impurities and dilution and therefore shouldn't have been counted in resource estimates!
In other words, CXO is trying to put a rosy picture ahead of the actual mining and production and impending difficulties!
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Last
9.7¢ |
Change
-0.001(0.52%) |
Mkt cap ! $205.7M | |||
| Open | High | Low | Value | Volume |
| 9.6¢ | 9.8¢ | 9.4¢ | $489.6K | 5.108M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 8 | 359900 | 9.6¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 9.7¢ | 168078 | 5 |
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| Last trade - 12.18pm 01/08/2025 (20 minute delay) ? |
| CXO (ASX) Chart |