RE: 88e24 Jan 2025 15:25
12:07 - well while you shares view is correct I have to correct your 'no money in the bank' comment, while they have nothing really to support drilling programmes they have leases and they have enough cash to last them at least 12 months (admittedly if they do very little but they are also expecting around A$3M in the next 60 days, so this boosts the coffers quite a bit, from the FY23 Report released on the 20th Jan. '25;
Corporate
• Cash balance at the end of the quarter of A$7.2 million
• Staff costs for FY24 of A$1.5 million compared to A$2.8 million in CY23, representing a 46%
reduction.
• Corporate costs for FY24 of A$2.0 million compared to A$2.6 million in FY23, representing a 23%
reduction.
so with current costs of A$3.5M a year, they clearly have funds for the next 12 months, just to clarify :-)