CMT are expecting to spend $1.1m next qtr (including admin expenses) which will leave them $1m at end of September. Their admin costs seem fairly constant at around $240k qtr. What we don't know is what the expenditure commitments are for Q4 and going forward into next year.
I imagine they would be loath to issue more stock at this price level.
Activity in PNG generally slows down for the wet season so it may be reasonable to expect their commitments will be reduced over this period. That would give them until Q1 15 before they need to fill the tin. Perhaps flogging 20% of their KPL shares would put another $1m in the coffers and avoid the need for a dilutive raising in the short term ?
Has anyone spoken to management ?
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