The $3 million will come in if the share price goes above 4c....

The $3 million will come in if the share price goes above 4c. Otherwise, the loyalty option holders will not convert the options.

Guessing the cash balance is a bit hard as we don't know how much they spent.
On 31 March they had $1.3M
They raised $2.6 million from placement
They raised $409k from loyalty options

So, it gives us $4.3 million cash minus all the expenditures starting from 31 March.

They also have access to US$2M Geodrill Drill for Equity Facility. MKG pays half of the drilling costs and issues shares for the remaining half. I think they pay $US1 million to the driller and issue US$1 million worth of shares? Or they pay US$2 million and issue $US2 million worth of shares. Not sure which one

They tend to raise every six months, which means another 4 months before the next raise IMO.