Also on the quarterly, separating MMA and RDM cash flows:
- RDM quarterly spend $850k for exploration and evaluation, assume $300k staff and overhead costs out of $600k for MMA and RDM = $1.15m quarterly spend with multiple drilling programs and ongoing metallurgy work completed in the quarter
- Total cash of $5.446m less $1.07m for 53% of MMA = $4.38m for RDM alone
- Item 8.7, quarters of funding available for RDM then is 3.8, so plenty of runway (better than the quarterly makes it appear)
Looking forward to some metallurgy dropping soon.
Speaking of location, compare the below for Sybella with some of our counterparts:
Sybella, Mt Isa
AR3, Victoria
MEI, Brazil
I know where I'd prefer a mining operation from an environmental standpoint, approvals and rehab costs.
Red Metal Banter, page-231
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