I mostly agree with you, most of it is contracting. However, they still need to pay for the following: - Village expansion, around $3.6m - Access road, around $6.8m - Goldfields highway intersection, TBC - Railway crossing, TBC Have a read of prospectus and latest announcements.
They won't be able to mine unless some more capital is raised. Given the IPO couldn't raise more than a few millions when IO was >$200, I question how much they can raise now.
JNO Price at posting:
14.8¢ Sentiment: Sell Disclosure: Not Held
