Oldcar, matey, how much can a koala bear? I did some numbers the other day on HC for cash flow, but was based on raising a minimum of $12m. $6m won’t even cut it. Oldcar, ole mate, agree with you, very unimpressed, the guy has more front than Meyers, but not a clue about mining. No idea. I saw in the last quarterly payment of $175k to a related party, I’m told was a commission on the last cap raises to a director. I think it may be. ( there was no disclosure of what it was for. Just said: included in Item 1)? What about this current cap raise, does the director take 6%.? Would like to see accurate disclosure. ( disclosure)? There is no disclosure of who the related party payment was paid to and what it was for! Head in the trough? Anyway as for the cap raise. The monthly expenses TBA for the previous 3 months as outlined in the September quarterly was $15.07m for mining and admin etc. So at a burn rate of $5m a month and considering another month has gone by after the quarterly report, says:, funding available for next quarter is $350k. So I imagine there are creditors lined up for the period 30th September to now and based on the previous 3 months would be $5m. OK, that’s using TBA quarterly as a yardstick. That’s using TBA's own quarterly figures. So can someone tell me please, without crying, with big increases in expenses: carting ore to GAM plant assume $1.5m ( gotta guess because the company won’t tell us) upkeep of 30 klms of haul road assume $277 per day, per KLM x 32 KLM x 30 days + $250k month, rental of GAM plant $110k + GST month, operating GAM plant $50 per tonne. 1800tpd x 30days x $50 + Cyanide and reagents just rose 50%. So with my estimated $12m needed NOW can the company explain how $3.45m is going to last more than a couple of weeks? It’s less than the current burn rate per month without the added expenses. As well, the pits (open-cut mining) are getting deeper so the fuel cost will double on the climb out. What happens if the wet sets in? ( contingency plan?) (will Iwella put keep putting their hand in their pocket)?TBA has used its entire 15% cap raise allowance for this raise and will have to go back to shareholders to top up. More stock has been issued in TBA(800m more shares) in the last 10 months under this MD than in the entire time the company started in 2017. TBA has gone from 558m in Jan 2022 to approx 1.25billion shares plus 100m options in 10 months. Still not a single 1 ounce of gold and in my opinion, we will ride a unicorn before it ever happens. Combine the “puss” with the current $8.5m in binding debt payments to be paid, as well as all of the creditors,, who I imagine now will the already champing at the bit.As for the SPP, that will be a second rise on the Unicorn unless the Iwella and Co’s supporter put their hands up again what did Gough Whitlam say?
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