RE: "Transformational" / Cash Until July 2026! / Major Revenue Scale Up26 Jun 2025 15:33
I agree there’s no debt. However, he res some of that forensic analysis that gravy gets so triggered by…
As of 30th June 2024 cash was $770k
Yet on the 19th June 2024 they told us “the Company believes that the current cash balance is sufficient to continue operations until at least July 2025”. So we were supposed to believe $770k would last a year. :)
2 weeks later, despite that comment, they then raised $9m, giving a cash balance of circa $10m.
By year end the cash balance we now know was down to $1.987m.
Can anyone explain what the $8m was spent on? If it helps, the exploration, exploitation and evaluation expenditure for the full year was only circa $5m.