MGT 5.56% 19.0¢ magnetite mines limited.

3 million in the bank as of september. 1 million per quarter in...

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    3 million in the bank as of september.

    1 million per quarter in admin expenses
    1.67 million for the mining lease proposal application

    If they get the minimum 3 million from the rights issue, they should be able to scrape by without a raise until mid 2024. Full 6 million raise should take them through until December. (noting that a successful raise in this SPP will involve payment back to mintech for the convertable notes ranging from 1 to 2 million)

    With the DFS timeline pointing towards CYQ4 2024, i would think that if the full raise we're to happen from this placement it might be the last time they ask us for money, if a JV partner steps up.

    Fingers crossed.
 
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