Further to my concerns about the impending cash drain I note that ITC mentioned that their expected cash burn for the current quarter is to be 1.8 mill which then would leave them with 1.1 mill. Also add to that about $300K per mth in revenue which puts them back to 2mil at the end of the quarter with only 2 holes drilled.
I still feel a raising is coming, but my gut feel is they may wait until the drilling of Warhawk. If that comes in then sp should be much higher, maybe over 10c meaning less dilution.
Other than this small problem , its all go from here.
ITC Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
