They can only hide the cash position for another 20 days or so. Appendix 5B is there to stop this "ignore the people who pay you" mentality.
We know that
* at 1/1/20 there was $564k in the bank.
* $508k projected outflow to 31/3/20. This should be a bit less if the cost saving announcement of 26/3/20 is to be believed.
* No fundraising during the quarter
So there should be almost no money left. This is now a zombie shell. MW (and board) mismanagement has overseen such massive destruction of wealth that it is not worth selling for the few dollars left. No funds available to do anything.
To survive the next quarter
+ Chile delivers the goods, highly unlikely in locked down world
+ Chile is sold, highly unlikely in locked down world
+ Dilutionary capital raise at $0.003. Difficult in a locked down world.
If anyone can see a happy ending to this let me know. GLTAH
Ann: Off-hole EM targets provide further confidence at Collerina, page-10
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