Cash on hand Jul 01 - A$1233.8m (#1) Oct 31 - A$528.9m (#1 & #2) Nov 30 - A$405.0m (#2) Dec 08 - A$279.4m (#3) Dec 29 - ?
Cash burn (per day) Jul 01 - Oct 31 (123 days): A$4.55m (excluding dividend) Nov 01 - Nov 30 (30 days): A$4.13m (best case) Dec 01 - Dec 08 (8 days): A$15.7m (worst case)
Assuming the current cash burn is within this range (lets hope not!), then the current cash on hand on Monday is: Best case: A$192.6m Worst case: A$-50.3m
Clearly the worst case hasn't eventuated because something dramatic would have happened before now. So as a guide, if we assume a cash burn of A$7.85m, which is exactly 1/2 the worst case (A$15.7m) and 90% larger than the best case (A$4.13m), then we are left with A$114.5m
So I would estimate Dec 29 cash on hand between A$90m (worst case) and A$150m (best case). We have to assume lower copper revenues, higher redundancy costs and project closures, along with some provision pricing repayments. On the plus side, CAPEX and OPEX should be reduced due to the heavy spending between Dec 01-08. Also, I'm not sure how the Christmas period would have affected the results differently.
Lets hope they have enough cash to work through until the end of January and focus on reducing the cash burn even more.
