If you read last quarterly we had $4.2 million in cash. The estimated cash outflows for the current quarter is $1.2 million.
If this holds true we will have $3 milion left at end of June.
If the spend is approx the same for quarter ending September we will still have $1.8 million in the bank.
So I would expect to see another raise October or November. ICG does not have enough funds to complete the full 14,000 + 20% program.
Hopefully we will be raising at higher prices so it will much less dilutionary next time.
Cap.Raising or Update on Drilling., page-5
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