Beowulf Share Chat (BEM)

In June 2012 the cash was £5.05m and 4300m of KN was drilled

In Nov 2012 the cash was £4.20m and 5549m of KN was drilled (£680 of cash burn per metre)

In Dec 2012 the cash was £3.7m and 512m of KS was drilled (£976 of cash burn per metre)

In 2013 there is 18500m left to to drill on KS and £3.7m in cash (That is £200 max per metre)

So I calculate that BEM on cash burn of say £600 per metre for KS will run out of cash a third of the way through KS drilling. Lets assume that there are no further delays and they burn at a rate of £300 a metre they will run out and need another £2m of capital raising to complete KS.

You can forget about the additional 11000m drilling on KN as that will burn £2.2m minimum.

These are all very generous burn rates on 2012 performance so perhaps someone can check out the maths and contradict my calculations as I am no financial expert, but what I see is concerning.

Happy to be challenged. We will get another update on May 31 and it will be interesting to see the cash position.

Only drilling 6000m this year instead of 19000m.

What is all that about,,,,,,funding maybe!!!!!!!!

May-Britt Öhman - she looks as mad as a fookin hatter.

...go on then, whipround to the offy, mine's a four pack of draught Guinness. Non of that 1664 French carp.

Never let it be said that I am not well read

Just seen your 'zooloo'. excellent

We've no wish to hear about your kinky SM perversions

Take no notice of these nasty men
Take your time- at your own convenience
PS- shouldn't we be having a whipround for the trainer-???

...thought you were the genuine article...turns out you're really a phoney