KingCarmelo,Others here at HC have said Mackellar will cost...

KingCarmelo,

Others here at HC have said Mackellar will cost $6mil.
With a burn rate that has been about $1million a month, there can only be about $10 mil left, so there isn’t enough money for Mackellar at the moment. Have to do another capital raising soon or a farm-out.

This investor briefing looks like preparation for another capital raising before Xmas.

I guess the board and management have been waiting to announce good news to buoy the share price for the capital raising. That hasn’t happened yet, so I hope they don’t leave it too late to raise more. Last year was at $0.26 after the share price had sunk by about 60%. Hope it doesn’t sink by that much again from the current price.

I’m glad I got some more during the recent dip and then sold those again on recovery.

Hu,

Agree about the old management team. It’s hard to see what the new lot have achieved. How big were the payouts for the CFO & COO to leave? Any others gone? I wonder how big the golden parachutes will be for the new lot and the CEO?