capital raising on the way?

Hobo, this was Maddoc's calcs in the past.

Maddoc, no intention of copyright infringement, Apologies, just trying to answer Hobo.



Cash as at 22 June 2011 $m
From 31 Mar Quartley: $8.77

Estimated cash outflows for next quarter
Exploration and evaluation $1.00
Development (including plant refurbishment) $1.85
Production $3.85
Administration $0.25
Total $6.95

Balance: $1.82
Capital Raising Apr 2011 $12.32
Balance $14.14

Cash used for:
Purchase of crusher and mobile plant $3.00
Exploration of the Konongo Gold Project $4.00
Manganese Exploration $0.25
Expansion Studies $0.50
Working Capital $3.92
Expenses of the Placement $0.65
Total $12.32


So they have budgeted for production cost of $3.85m so depends on how much they have spent.

It doesn't look like they need any further cash. The revenue this quarter will be minimal but next quarter they should be in good shape...

Solely my assumptions:

3,000 ounces @ $1,500 per ounce = $4.5m revenue

Production costs next quarter should be alot lower than $3.85m as these are commissioning costs, so hopefully cash flow positive next month but they have a significant cash buffer from recent raising.

Still passes my stress test!