Yeah I wasn't surprised it wasn't in there. I just don't think there's any concern for time lines now the kitty is full. Talking about that, I have only had a quick look, and I'm only interested in the financials as you can't "fluff" that! Please anyone let me know what I didn't catch.
started the quarter with $3.52 mil
raised $8.7 mil
got a Gov Grant of $1.5 mil. AVL has to not only spend this, but match it. So that's $3.5mil + $8.7mil+1.5mil in the bank before any money spent no?????
spent $563,000 getting the funds (not sure if that includes the 25,000,000 options they gave away)
staff costs $459,000 for the 3 months. Not sure the breakdown there???
Admin & Corp costs (directors??) $563,000
Exploration & evaluation (???) $2.694mil
so I guess that means they spend roughly $3.845mil that quarter when not including the grant that goes back out soon I'd imagine. Why it even goes to the company to be included as income is beyond me. It's like me adding JobKeeper to my companies books claiming I had a good quarter!
raised $8.7mil at 2.5c a share with an option (paying $560,000 and quite possibly 25,000,000 options on top???)
got $1.5mil from the government that they will need to match
ended the quarter with $9.324mil
So there you go. No judgements on it by me and like I said please point out what I've missed. I'm just trying to make sense of the numbers as of course I've got a few shares left. You see, the nice thing about numbers is you can't make a phone call and tell some story trying to explain them. They are just what they are!!!
AVL Price at posting:
2.4¢ Sentiment: None Disclosure: Held
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