OK as I expected we would see some positive news from the drilling campaign.
What next?
The SP hasn't rocketed up its staying inside the range it has traded for the past 4 odd months, I need to ask why?
For the quarter ending March 24 they consumed $1,334k in cash. At the end of the quarter they had $1,368k in cash left.
If the cash burn in the quarter to June is the same as the quarter to March they will have $34k left in the bank!
Unless the have a debt facility they are going to run out of cash shortly.
What is the plan? Equity raising? Debt facility? Takeover? What?
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