Yep, as Deanostock points out, excluding govt grants and rebates the natural spend is about $12m per quarter, which gives us about 2 quarters. IMO spending is unlikely to come down given the level of activity. Finger in the air I'd say a CR at about 7c is on the cards..? Hoping I am wrong and they pull a rabbit out of the hat.
Ann: Quarterly Activities/Appendix 4C Cash Flow Report, page-7
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