Cairn are expectong to spend US$330m on SNE this year.
Using basic maths to get to FARs estimated spend $330/40%x15% = US$124m.
With a cash balance of US$114m at 31 Jan 2020 it is safe to say the cash will run out before years end and that is before you consider we spend a few mil each quarter on corporate/overheads.
Importantly FAR wont let the cash balance get below $20million based off previous raisings so that reduces the amount of cash available before FAR start thinking of a cap raise. We might have $114m but they wont let that drop below $20m so really we only have $94m to spend.
We are probably looking at September/October when things will start to get tight and it is already nearly April.
Cairn are expectong to spend US$330m on SNE this year. Using...
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