As i said a while back it wont take them long to burn through the $32M raised in Feb & March this year. But not even i thought that 6 months after that raising that the cash balance would be down to $16.8M. They have already burnt through almost 50% of it.
There will be well over a billion shares on issue before they even contemplate building the infrastructure necessary for production. I'm being generous by assuming they will get to that stage. Those exploration declines for Mallee Bull & Wirlong will total $10's of millions.
Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-5
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