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Don't forget the extra $1.5mil that goes to the vendors of Mavis...

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27/11/23

12:14

Post #: 71123406
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Originally posted by GARETH78: ↑

Hi YB,

I note you mention the 18 months funding was a selling point for the CR in July.

Personally I think this was a bit of a play on words. Being a little bit tricky even.

Yes the funds raise would likely have been enough to pay for the drilling campaign at mavis, but not to run the whole company for 18 months. 16% of the funds raised went straight to pay the $1.5m AUD deferred payment, plus throw in the work at Tot and Gull and the new people they are bringing onboard. The 18 month tag does not stack up against the historical spending, plus you cant run a company down to $0.

Below are the last 4 quarters of cash flow, including an average for the relevant (ongoing normal) costs.

I have thrown in some estimates with reduced expenditure, though I am not sure how much they are really going to be able to cut back??

I have also included the trade payables, because this will give an idea of actually free cash available. this has run at between $1.5m - $1.7m the last 18 months.

The sector sentiment has been terrible, and CRR is caught up in just as many others are, plus Canada seems to have really gone out of favour. these things pass.

I actually think they should get an MRE update out in January, go with what they have available. With a bit of luck we have a Dec / Jan Santa rally, lets be honest the sector is due one at some point.

Then they go for a CR in the last couple of weeks in Jan. It does not matter how much they adjust their spending, I cant see them being at the end of Dec with 2 qtrs of relevant outgoings on hand. Eve less free cash.

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Don't forget the extra $1.5mil that goes to the vendors of Mavis if the upgrade is above 10mt. Cap raise will definitely need to happen, hopefully and likely after the resource upgrade.

CRR Price at posting: 2.6¢ Sentiment: Hold Disclosure: Held
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Last 0.7¢		Change 0.000(0.00%)		Mkt cap ! $12.46M

Open	High	Low	Value	Volume
0.8¢	0.8¢	0.7¢	$24.60K	3.422M

Buyers (Bids)

No.	Vol.	Price($)
7	14046068	0.7¢

Sellers (Offers)

Price($)	Vol.	No.
0.8¢	3003877	18

View Market Depth

No.	Vol.	Price($)
7	14046068	0.007
11	30402136	0.006
13	36300199	0.005
5	5950000	0.004
3	5500001	0.003

Price($)	Vol.	No.
0.008	2357263	15
0.009	1861555	8
0.010	1880335	10
0.011	1962690	5
0.012	4684577	6

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Don't forget the extra $1.5mil that goes to the vendors of Mavis...

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Don't forget the extra $1.5mil that goes to the vendors of Mavis...

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