The cash situation is a bit misleading - they've been using their cash up rather than draw down on their debt facilities - which makes financial sense.
They've got around $20m in the bank and an unused $17m debt facility. That's more than enough to get them through to production.
I don't think they'll need to go back to the market at all unless they want to ramp up production way above previous expectations.
I understand that newsflow has been slow, but everything I see tells me that they are on track. I'm confident that the company is doing ok - how else do you explain getting that Kraft Foods exec on the board? I'm sure there was some due diligence done there before he made the decision.
UNS Price at posting:
96.0¢ Sentiment: LT Buy Disclosure: Held
