To add some more information about the $4 million:
Firstly net of costs it was $3.75 million (re the prospectus).
Secondly from the presentation on the 1st of September discussing their planned drilling programme, page 2:
"• Initial work commitments are two core holes, earning 50% in ATP 840 and 33.3% in ATP 904
• Estimated cost is $2.5m. CRL will be the operator"
So this leaves $1.25 million minus running costs of the business plus cash as at the end of June.
Is that really enough for the CTP JV?
rog financing and cash, page-7
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