people have been saying a 'cap raising is just around the corner' since bloody november.
And look! It hasnt eventuated
You realise any day now we are receiving approximately 9million US into the bank from vanmag?
You also realise we are about a month away from finalising a loan for 30+ million dollars.
At the moment this company has a cash burn of about 2 million dollars a 1/4. It has 7 million in the bank currently. If it can offload the 200k domestic grade junk at VVK that will give us another million or two in the bank.
Most companies of this size have NO cash flow/ revenue and simply cant be doing much at any one time. CCC have 1 BFS underway, 1 sale of assets, 2 purchases of assets finalised, 1 Application for exploration rights, 1 current drill program underway, 3 drill programs being modelled, 1 alteration of BFS with improved engineering, multiple loan offers that need to be considered, 2 market listings underwa, 2 mines currently in production and finalisation of equity or cash payment for the Mashala transaction.
You wonder why they need to spend a lot of money and have a big team? Look at how much they are doing.
They can do all of this in 1 quarter while ONLY spending 2 million dollars.
CCC Price at posting:
55.0¢ Sentiment: Buy Disclosure: Held
