Getting back to FGR cash reserves possible CR, Current cash reserves 30th Dec $3.2mil
First half 2019 operations have been costing around $115k per week, if FGR expenditure doesn't change, the company has enough cash until 7th July.
I suspect 2H19 will be more expensive with costs associated in the UK, GEIC, additional employees, plant and equipment and Henderson running at full capacity, (I am only assuming a single shift = 2t per month)
During 2018 the expenditure was $135k per week based on a $7mil loss for the year.
= 23 weeks cash or 9th June,
Worst case scenario from 2018 annual
$8mil loss excluding the R&D refund, As you know we did build Henderson that cost around $1mil, BB costs, ect,
If I use the worst case scenario of $8mil, = $153k per week. the 3.2mil will last 21 weeks. = 26th of May
On all 3 scenario's FGR will have enough cash until NICNAS arrives.
I still believe we will see a CR prior to NICNAS being granted, I highly doubt we will get to see the QTR cashflow report before the raise is called. All IMO...
