Red Metal Banter, page-398

They currently have circa $4m as of 30 December 2023 - keep in mind the quarterlies include 50% of MMA cash burn and cash position as they are technically a subsidary, so the quarterlies require a bit of decoding. That should end when MMA do a raise and dilute RDM below 50% ownership.

Total cash burn per quarter consistently $0.7 - $1m. Drilling at non-Sybella exploration targets looks to be wrapping up (other posters are more across this than I am). My impression is unless they hit something there they will wind down non-Sybella exploration for the near tearm. Met work is ongoing but per Rob they get 40-45% R&D rebate, maybe $100k per quarter there?

Big ticket item upcoming is drilling at Sybella, they have forecast ~100 holes for 60 m using RC. My guess is all in drilling costs for RC so close to Mt Isa and only assaying 5 m interval composites (like they did in the original drilling) comes to around $150-$200/m drilled. I'll let you do the math on total cost for that drill program vs cash position.

They are also investigating multiple government funding pathways, and they have a very good track record of getting government funding for exploration. Key one short term looks to be the Mt Isa transition fund - $30 m for mining exploration/development projects in the Mt Isa region, maximum $2m per grant and multiple grant applications allowed for different purposes per project.

Finally, they have $20m of MMA shares which come out of escrow in April.

But as always, "raise when you can, not when you have to" applies.