Just going off the Ballieu projections, cash at the end of the calendar year should be around $17.6m. The projected cash in hand at the end of 2012 is $19.3.
This may be a tad optomistic given that there was 16.1m cash in the kitty at the at the end of September but there is gold production happening and guidances have been confirmed. the company can now also obtain short term debt finance (IMHO) should it need to.
So the answer is probably NO and I also doubt whether the company will bring forward Castlmaine development from previous guidance. Historically CGT are pedantic explorers who need to know all the facts prior to digging.
The key variable in all of this analysis is the POG in AUD.
cheers
CGT Price at posting:
35.5¢ Sentiment: None Disclosure: Held
