It is good to see ASN pushing ahead with their project even though there is still a halt in place and ASN are able to continue to work because the permit is still valid because of the late lodgement "request for reconsideration"
That is good, but i wonder if ASN continue to spend money here, and the possibility that the halt is upheld, then is it like throwing good money after bad?
It is quite risky but i guess that is the penny sector. But i guess ASN with a current MC of $230m and a cash burn of $5m per quarter then how long can this go on for given at that rate without the 30m loan they will have only 2 and a bit quarters of cash left,and with the $30loan faclity its only 9 quarters as of last quarter 3 months back?
""It should be noted that the a “Request for Reconsideration” of the Temporary Water Extraction Permit grant was required to be lodged before 30th May 2024. No application for reconsideration was received by the Water Engineer by this date and therefore this permit status remains granted. As this temporary permit valid for 12 months the Company is continuing with its work at the Green River Sample Demonstration Plant""
