just to the point about raising cash. It could be sooner than than some think?
4c report says circa $800k at end of quarter.
CCO raised circa $2.45 mill after brokerage fees of 6%.
At the bottom of this post is the outline of the proposed use of capital raise funds.
+ $800,000 on hand + $332,000 working capital form raised funds + 431,000 surplus top up raise = $1,563,000
/ quarterly burn of circa $900,000
= 1.73 quarters
So it’s entirety possible there will be another raise at the next quarterly report in 3 months time… otherwise the report could show less than a quarter of cash on hand.
Plus CCO signalled there is going to be an uplift in inventory (higher spend rate?) this coming quarter due to shut down of the processing facility for works.
as per usual this is my opinion only. I am an idiot do your own research I am always wrong just ask leapzig.
