MNS 0.00% 4.2¢ magnis energy technologies ltd

Ann: Quarterly Cashflow Report-MNS.AX, page-8

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  1. 1,616 Posts.
    lightbulb Created with Sketch. 1105
    Yes, but it was estimated we would spend $1,706M in Q2 on exploration and we only spent $1,115M. Good result.

    Now we are estimating an exploration spend of $1,472M for Q3. I imagine we will come in under budget again.... better to over project and end up spending less!

    True, I don't know what the exploration is for... maybe further upgrading resource categories. I imagine it's being spent very wisely (we even relinquished a few tenements to save on costs).

    Admin spend was pretty close to budget ($115k over). Sure $1M a quarter is a decent amount for a company that isn't producing, but it's also a lot of expertise and energy being paid for to drive things forward. Our board and management is pretty comprehensive now

    Plus $11M to come in for options conversion..... all is sweet, the next raising will be the equity portion for finance!!
 
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