Tombador Open Source forecast Model, page-25

Hi Bosto,

from the July update you will see their Actual Costs versus the prospectus issued at the time of the CR back in Oct 2020. If you strip out Corp costs and working capital they had only spent around $7m and had just under $24m in cash remaining! The quarterly cashflow update shows costs of $2.9m associated with operating activities and $5m associated with investment activities. If someone has the prospectus for relisting, they may have more info but imo your $30m CAPEX is on the high side and something closer to $10m might be a closer number.

Regardless, for a company of this size which is now in production, they must be sitting on a mountain of cash by now. With 65% IO prices still looking pretty good I find their SP very cheap. I have added some more to my holding today as I think this quarters numbers are going to show us how much cash they really have!