It's either a typo and should be $14.5m or they are in trouble. As you say they had $1.5m as of 30 June + $7m from the IPO, let's say $8m after IPO costs.
At AU$2650/oz gold, 75% recovery, 3g/t Au (as per page 58 of prospectus), they should be getting revenue ~$190/t. Costs are around $91/t (page 57/58 of prospectus) and therefore they should be getting a monthly surplus of $2m /month and therefor $14m cash by end of September.
Ann: Investor Presentation, page-14
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