Yes you may be right spec.
From their March presentation however: Producing and debt-free
– $18.5 million cash and no debt at 31 March 2021
Plus the $21m just raised and add the $4m to be raised by the SPP and you have $43.5m.
Reduced by expenditure to date from March. What is their monthly burn rate? say $4m over 3-4 months?
So may be the cash after final SPP money will be around $40m ? Am I missing something?
Ora Banda Mining (ASX:OBM) set to undertake $21M placement, page-5
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