Does the company have enough to complete the drill program for Murraydium as well ? Lots of RC holes over there as well, 307 at the last quarterly announcement. They are awaiting drill permits to be issued.
$7m in the bank and two extensive drill programs will push cash burn. Last quarter was $1m burn, so this Q might be double that and possibly more.
Sale of PNG will cover a bit but they also have the Koolya tenement where there might be a resource of high quality alumina - the price of which has recently gone ballistic.
So there are many costs in the next six months but probably still enough in the bank to last another few quarters but then it get's tight.
So lets hope for great results asap. Looking forward to Gascoyne and Murraydium delivering the mother load !! Then we won't really care about a CR.
Cheers
Ann: High-Grade Rare Earth Discoveries Confirmed, page-287
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