Gustie not sure how you come up with the funds available line unless you know more than us. I make it as at start of first quarter 2012 balance $4,398,000 . Cash burn for first quarter last year was $2,880,000 which assuming it was approximately the same this year would leave end balance of $1,437,000 at the start of the June quarter 2012. The cash burn for the June quarter last year was $4,389,000 or $1,463,000 per month which to my calculations would leave a balance of zero at the end of April. Undoubtedly the management have a plan in place but I really cant see how there would be much in the tin at the moment unless I have missed something vital. You would assume however that the now more highly paid CEO and others were comfortable with the situation before they signed up. I think the Directors CEO and Stephen Lyons will now draw down almost $400,000 per quarter between them so cash is starting to evaporate a lot more quickly. With a quality funding plan[a little more professional than Linc Energy one would hope] in place you probably go first class Gustie no funding confirmed before AGM you may have to hitch.
SEH Price at posting:
7.5¢ Sentiment: LT Buy Disclosure: Held
