AAR had $3.025 million in cash at the end of last quarter and estimated expenditure of $250K for this quarter. They are receiving a 50% subsidy from the NT Govt for the Victoria River Downs gravity survey.
The only way I can see AAR asking for money in the short term is if they want to start mining gold out of Feysville. And I won't have a problem with that. But I think it's too early for that yet.
Anyway, by the end of July we should have a better idea of what this potential shallow open cut mine near Kalgoorlie has to offer us. Hopefully there will be a lot more of those intersections at grades between 3.3 and 8.8 g/tonne.
AAR Price at posting:
24.0¢ Sentiment: Hold Disclosure: Held
