Cash at the end of Sept was just under $6 million.
Cash on the 29th Nov (AGM) was just over $3 million.
Spend rate demonstrates that in around 2 months $3 million was spent.
A capital raising would need to take place very soon. I would be very nervous moving into early Jan if there wasn't one done. The positive recent spin is an attempt to keep the share price up so one can get done.
Looking at people's salaries within the group one can only wonder why Senior management got a pay rise when they didn't achieve anything. What are they doing if they aren't mining - just sitting in an office?
Shareholders are rewarding management for no results.
Cash at the end of Sept was just under $6 million.Cash on the...
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Last
82.5¢ |
Change
0.043(5.43%) |
Mkt cap ! $164.8M | |||
| Open | High | Low | Value | Volume |
| 82.5¢ | 82.5¢ | 82.5¢ | $1.592K | 1.93K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 2000 | 75.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 83.0¢ | 2100 | 1 |
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| Last trade - 12.30pm 06/09/2024 (20 minute delay) ? |
| RHK (ASX) Chart |