the only people making money are management, what is the cash burn of this company?
ie how much do they pay the MD?
what about that Geo?
i just had a look at the last quarterly and they spend $1.7m on exploration, with $2.9 in the June quarter. by the end of June cahs will be down to 4.8m. this time next year they will have no cash left.
given they are planning on doing a reasonable amount of drilling at Canegrass how long do you think it will be before they need to raise capital? i give it around the end of the year and these guys will be tapping the market for cash.
if no insto's are interested who are they gona get the cash from? its gona be brokers who will want 6% of anything they raise and we all know what the retail brokers will do dont we.
thats what i bring to the table snacks, reality not hype.
totally amazing really, page-6
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