Ok, if you say so.
$10m in the bank at the end of Sept quarter(post CR), projected spend of $3.5m for Dec qtr.
Leaves $6.5m in the bank at the start of the year. Mobilising more rigs and drilling holes is not cheap so at a guess I would conservatively expect that burn rate to increase from last qtr to maybe $4m(could be wrong) for March-17 qtr.
We are basically in Feb so in another 60 days that'll only leave $2m in the bank. Which depending on how far along they are with the drill program will put them in an interesting position if they have not already tapped the market on the shoulder for some more $'s. It's also worth noting that this deposit they are currently drilling has already had $100m spent on it, to think a few extra holes is going to be a company maker, may be a little optimistic (jimho).
These are rough numbers and I really look forward to being proven wrong but thanks, seriously loved your response.
Btw, I'm a long term holder and if you've seen any of my previous posts you'll know a long term supporter. I have no doubt the team running this show will exploit any and all value out of what is put in front of them but it's also useful to take a realistic view of these spec plays as well.
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