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clock Created with Sketch. 11/03/16
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Originally posted by sroyle
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accounts show cash burn of over $1 Million a month with further CR's after recent Feb raise of $3Mill likely.3. GOING CONCERN $7,007,982 not sufficient to meet the Group’s planned expenditure budget including exploration activities for the 12 months to 31 December 2016 . The Group has exploration and evaluation expenditure forecast over the next 6 months totalling $3,397,898. In order to fully implement its exploration strategy the Group will require additional funds. material uncertainty which may cast significant doubt over the Group’s ability to continue as a going concern If the Company and the Group are unable to continue as a going concern they may be required to realise its assets and extinguish its liabilities other than in the normal course of business and at amounts different to those stated in the financial statements."
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for your information:$3,397,898 . In order to fully implement its exploration strategy the Group will require additional funds".$1,580,000 at 31/12/15$3,000,000 via shares & $437,209 via option conversion$5,017,209 , sufficient for until 30/9/16
Last edited by
ddzx :
11/03/16
(20min delay)