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05/06/23
09:11
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Originally posted by calmbeforestorm:
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Based on the sped of drilling to date and the number of drill rigs, assuming 6 rigs from July, then AZS will probably finish its 40,000m of drilling by around the end of September. Based on how they have used funds for the Ni drilling and the number of drill rigs AZS will need to replenish funds towards the end of September and into October. By the end of September I estimate AZS will also be down to roughly $5m to $7m in cash, give or take a few million dollars. With 4 rigs now and possibly 2 more by the end of June, they will be burning through a lot of cash. So I am expecting a capital raise later in September or in October to replenish their coffers. If the assay results up to that time are good then the CR is likely to be big and will reflect the SP rise. If the SP rises to $1.50 or higher then the CR could be $50m or even $100m (last CR other than SQM was $37m in late 2020 when SP was over 70c).
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Theres $8M cash and $4M shares coming through from Bendito resources by year end to finalise the mexican asset sales, just to lighten the requirements slightly.