$4m now but we had a burn rate of $1.9 this quarter. Granted there was $1.6m of that on drilling but regardless we have a, at best estimates, $90m capex to fund, the cost of lease on the site will start coming out soon and staff costs are only going to go up.
We're going to need money soon. Not trying to down ramp just being realistic.
It's crazy to think that a company with 3 JORC sites is valued at $20m. There is spec plays out there who are just at drilling stage with one prospect valued considerably more than that. Madness!
Anyway I'm hoping CN might put a statement out to us at some point with a roadmap once he's settled in.
Cheers,
DMac
PGM Price at posting:
8.0¢ Sentiment: Buy Disclosure: Held
