capital raising ?

As per last quarterly:
- Cash at end of Sep : $10.0m
- Expected cash payments in Oct-Dec : $2.8m
- Terra Energy restructure (announced after quarterly): $5m
= Expected cash at the end of Dec = $2.2m

The expected cash payments in Oct-Dec, as per the quarterly, exclude Mongolian North Pit payments as they will be offset by Noble loan.

Last time the company found itself with such a low amount of cash was in March 2012 (around $3.5m) and it did a capital raising for $25m.

Someone might say that North Pit is moving into production which will generate cashflow, but Mongolia is now in Winter and am not sure how this will impact. Also, we haven't heard yet that production has started.

Could this be another reason why the share price is not moving further ahead?

Do your own research as I am not an expert