Yes, HC is wrong. You are right that they need cash to see them through to Oct 2024 when the 30c options are due to be exercised.
The apparent lack of urgency to raise funds has me thinking that they possibly have funding in hand. The March quarterly will show that they do not have the funds for the next two quarters, and they will have to explain to the ASX how they intend to fund the next two quarters. I suspect the funding announcement will be out before the quarterly is released. I can only think that they are possibly waiting for the copper/gold lab results, but I doubt that they will spike the share price. Maybe they have been reading "X" and believe that a capex can be done with silver at $50 before the end of the month.
I explained to them today (amongst other things) that MMA's lack of performance compared to its peers in some respect can be put down to the market knowing that they require funds and that their procrastination is limiting MMA's upside at a time that silver is breaking out.
MMA Price at posting:
33.0¢ Sentiment: Buy Disclosure: Held
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