Let's hope so.
While going to read this ann, I saw the "investor presentation" one released a few days ago, which is never a good sign in my experience.
Cash on hand at 31/3/2022 was $17m. In that 5B ~$5m was spent during the quarter. However, this was during the quieter months of Christmas and New Year.
Monthly bills will be falling due soon.
If we take it that CoH is ~$7.4m, that gives a spend this quarter of ~$10m which seems about right.I liked this part of the update:
Management continues to prudently manage finances during the
current period of economic uncertainty and market volatility
Cash on Hand $7.4 million
So perhaps we have dodged a bullet for the time being?
Drilling work has come to an end for the time being so perhaps we can wait for results and a higher sp before going to the market again.
As
@smulv has stated, the SOI have always been low. After around ten years of being listed, NXM still only has ~289m SOI and they have never re-organised their capital during this time.
Good luck longs, lets hope for some stellar results from the pending assays.
Perdy
