They estimated in their last Quarterly (27th October 2023) that they had approx 3.64 Quarters of fund left based on previous cash burn. Current cash of 900K at that point.
I agree they will need a CR soon ... The big question is, are they backing some stellar results on the in house drill samples to try and get the CR done at a higher rate, or is the current SP rise fabricated to serve that purpose?
Either option does not negate the possibility of some potential serious SP rise over the next few months or so. We are a Spec ... we need cash to continue. In the end, the quality of our holdings determine where the SP ends up.
Any SP drops from here look like a buying op at this point in time ... in my humble opinion.
PRS Price at posting:
3.7¢ Sentiment: Buy Disclosure: Held
