Expect another fundraising exercise.2 Jul 2023 14:31
Taken from the Annual report:
Financial Review and Financing
At the end of the period under review, the accounts show that Wishbone held cash balances totalling £1,457,902 (2021: £3,002,547). Administrative costs, excluding interest during the year, were £1,116,947 (2021: £1,194,053).
The Company continues its strategy of exploration on its properties in Australia.
We have enough money for this season only. We have no revenue or income. The Board continue to collect salary.
Unless RP & WSBN make a spectacular discovery in the next 6 months, followed by an immediate Farmout with a large upfront payment, then expect a fundraiser & dilution soon.
Thoughts?
Rex