Comparing the BS from previous periods, I think the cash burn rate is circa $500 - 700K a qtr.
There is no definitive cash income as MNM is an explorer and as such, relies on CR and placements to raise cash.
As F has pointed out there are only a few members of staff, salaries are not high and potential income from Phosphate sale and recoverable court costs to come in the door as well.
Having said that, they will need to raise some cash at some point in time. I believe once bank account gets to the $1-$1.5 mill mark - time to get some more cash - so likely by Xmas time.
Having said that, with BM drilling completed (and paid for), with JORC soon to be defined (just literally weeks away), drilling to commence at GC (cash allocated already), I'm expecting a lot of news before cash will need to be raised again, so we hope the SP will be well north of where it is now.
Hope that helps.
Cheers K
MNM Price at posting:
9.4¢ Sentiment: LT Buy Disclosure: Held
