The funding months in the quarterly is a formula. Personally, I find it very misleading (generally, not just for IVZ). It may work for more established companies with regular cashflows but it is meaningless for explorers who may have minimal costs one quarter whilst not drilling and major costs in another quarter when drilling imo. IVZ is apparently funded to complete Baobab. After that, we'll need to raise for further wells (via CR, farm in or whatever other option they choose to pursue).
Ann: Response to ASX Price and Volume Query, page-110
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