The company has already stated that they have no need to raise capital in the immediate future. They will have approx $16m in the bank by the end of June and another $16m in the JV account. Enough to last until end of September 2013.
Their cash spend rate is approx $3m per quarter.
Directors not buying is a good thing.
PJ, nothing to do with being a non-starter. 90% of coal developers have been trashed no matter where they are located. Thermal coal prices will get better eventually. Not relevant to MTE in the immediate future as they are not raising capital nor looking for debt funding.
Since listing up to 30 June 2012
Bundi exploration expenditure $18m
Columboola exploration expenditure $14m
3TL investment $3.5m
Cash at bank now circa $16m
Cash at bank Columboola JV account now circa $16m
Total $67.5m
The company is currently capped at $50m. I just shake my head.
The company has already stated that they have no need to raise...
-
- There are more pages in this discussion • 9 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)