Hey Ed, had a chance to read the TUL quarterly? They have $10m in cash. They expect to end the June Q with negative $8.6m, which I assume will be duplicated by PNR. So.... they will burn through approx $17m in total.
So the combined entity ended March 30 with approx $93m in cash, minus $70m in debt. They will go through approx $17m, which will leave them with $76m. These numbers match up fairly well with the capital raising expectations. Now its all about whether they can actually meet the goals they have set. The amount of liquidity gives them some breathing room, but.... realistically, its not about the Sept Q in terms of whether PNR can break even.... They state that most of the operations should be fully ready... by the end of June 30.
I can only hope they give a monthly update on production. I wonder if PNRs other mine is worth anything... as they are actively trying to sell it... small upside possible?
PNR Price at posting:
7.2¢ Sentiment: Hold Disclosure: Not Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)