BUT bright star resources limited

june qtr - cashflow - please explain

  1. 248 Posts.
    The Merger was meant to be done and dusted by now but is very late.

    BUT stated in their last quarterly cashflow that they would spend A$650,000 this June quarter($400K on exploration & $250k on Admin)which would be funded via existing cash balances of $1.225m.

    BUT.......

    1)Admin has been running at circa $500,000+ per quarter,
    2)Planned / stated Kitongo May drilling of 3,000 m of RC drilling will cost $500,000 ++
    3) Assays of this more $$$$
    4) Then in June the Miyabi drilling is planned - which will mean more $$$ cashflow for the September quarter.

    THUS .....

    1) Cashflow will come from where - the Rift Merger?
    2) If so when will it occur.

    I note:

    1) The Merger Document prevents Brightstar to issue capital or borrow any meaningful amount,
    2) We are some time away to get all required Merger Approvals and reading the tea leaves it appears the delay has been the fault of Brightstar.

    An ASX Market update is required in my books.




 
Add to My Watchlist
What is My Watchlist?
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.

Currently unlisted public company.

arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.