Closer to 2 quarters based on the projected cash outflow for the next quarter but yes a capital raising will be close. At this point i'm pretty confident the money will be there when needed based on the fact that our major shareholder and supporters have too much on the line to refuse to support which will hopefully be enough to anchor an underwritten offer.
Of course that's all speculation on my part. The best thing would be if BB can get something happening out of those Coburn discussions. In the meantime I'm assuming that he is back in the market with the 1 million buy order at 2.1. If so that means he doesn't anticipate any news in the next few weeks.
From the report, realistically we can expect final permitting on Gunson this quarter. Imo the market already expects this so it probably won't do anything for the price. None of the other projects will deliver anything this quarter and that is reflected in projected exploration expenditure. My guess on increased admin expenditure could perhaps be for travel to promote the company and projects? I hope so as it's needed.
I'm still happy to be a buyer as able.
GUN Price at posting:
2.2¢ Sentiment: Buy Disclosure: Held
