SKB,
As per last cash outflow statement, my understanding is:
1. $1.8M per quarter for staff and corporate costs (incl admin). That is $0.6M per month. We need to take 0.6M (at least) from the $48M,
2. $3M is projected to be spent this quarter (end at March) on exploration. That is $1M per month on average (though we don't know timing). We need $1M (at least) from the $48M.
3. Fluctuation is the currency: we don't know that yet.
So at the very least, we need to deduct $1.6M from $48M, giving us a running balance of $46.4M (approx).
Add the $50M raised, should give us a balance of $96.4M.
Based on carrying balance of $95M, the cost of the raise would be around $1.4M (96.4-95).
This equates to 2.8% of $50M raised (without accounting for fluctuation of currencies on operning balance).
SKB, As per last cash outflow statement, my understanding is:1....
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