Less than 3 months of cash left in the kitty as at 30 September, which means the company has to raise money at or close to all time low share prices in the next few weeks. Judging by the timing of this quarterly (5pm - afterhours), I would not be surprised if the CR happens as early as tomorrow. The question is why would anyone give them any more money? Where is the $80m+, which institutional & retail shareholders and Australian taxpayers (R&D rebates) provided? The management literally burnt through a pile of cash in the past few years and they don't even have a DFS or an asset that suuply feedstock for over 10 years.
"Ongoing discussions with major shareholders regarding funding strategies. The company has $1.13m of listed investments and 12m shares in the Acuity Capital ATM facility."
Major shareholders hopefully will show you the door Scotty.
Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-7
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