I hear you. I was responding to @bendigo who indicated that we had bought all the second hand equipment and that $5m was enough. I just pointed out to him that it isn't. You can't argue with a Balance Sheet and cash flow report.
Bruce won't let that cash get to $1m. I would think that $2-3m would create a kicker. letting it go to $1m is tantamount to suicide as doing a cr after that takes time and they may not be abloe to pay for stuff then it's fire sale time. Also, we don't know what financial commitments they have. maybe they have a bucket load of second hand equipment on order ready for a cash on delivery job. Maybe that is worth $6m. What then? Are there still exploration costs for A central and Muchea? and what about Boyatup?
Bat as a broken record - we have no freakin idea.
Just sayin' - you can't take the bank balance down to near nothing because word gets around and if you are a bad payer, you get put on a cash up front basis and forget finance.
All imho & dyor
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