1) hopefully cash burn curtailed (that was way way out of control!!!!),
2) more money spent on exploration and development than management and admin is what I am hoping to see. (that was also out of control)
3) According to the document, "Offer Booklet For Rights Issue" and trusting this is a true and accurate statement "Havilah Resources’ cash position at the end of July 2019 was approximately $3,820,000. Assuming that the Offer is fully subscribed, the Entitlement Offer will provide the Company with additional funds of $5,456,584 (before costs). On this basis, on completion of the Entitlement Offer (before costs), the Company will have approximately $9,276,584 in cash (made up of $5,456,584 raised under the Entitlement Offer and $3,820,000 cash balances at 31 July 2019 (before expenses incurred from 1 August 2019 to the date of this Offer Booklet, which includes repayment of a $1,500,000 loan to Investec Bank and one-off expenses arising from promotion of the GFG Transaction and re-structuring costs)."
HAV Price at posting:
10.5¢ Sentiment: Hold Disclosure: Held
