cash burn

Hey guys,

As at Sept 30th 2014, RES had cash reserves of 45,944M

Expenditure over the last few quarters as follows;

Q4 2013 - 7,326
Q1 2014 - 3,635
Q2 2014 - 10,937
Q3 2014 - 8,299

If we assume expenditure for the current quarter is similar to that of the last, RES are sitting on a kitty of about $38M. At an average cash burn of 8-10M per Q, RES will be running out of money by this time next year.

Obviously we all hope a suitable finance package will be completed by then, but it really irks me that RES won't (or can't) disclose what the hold up is.

From a recent article on www.mining.com

"Eskom needs R250 billion ($21 billion) to upgrade its infrastructure and build new power stations, most of them coal-fired, and with a national debt already at 50% of GDP, the government may be forced to sell off shareholdings it has in a number of large companies."

http://www.mining.com/south-africa-may-sell-iron-ore-and-bhp-shares-worth-3bn-82228/

Does this mean the SA lenders RES are negotiating with have no money to lend?

Is the delay related to coal prices?

Also, no mention of a new earthworks contractor yet either.