In my view, AQD management believe in putting out the bright side of AQD rather than providing list of its failures for example-recently finished core drilling at fraser range (Dundas project) WA did not show up any sign of Nickel discovery.
Prior to drilling and raising capital, AQD was beating the drums of Bollinger nickel-copper ( Siris Resources) type discovery and later, AQD failed to put out even assay value of the analysed samples.
Please note- AQD had 1.34M cash at 31 March 2014 and, projected outflow for the quarter is about $735K. This means AQD would not have enough cash at the end of June 2014 quarter to carry out drilling or exploration in any of the projects outlined in the recent presentation.
In my view, AQD would rather go for capital raising soon. In the current environment, it is not easy to raise capital in share market for exploration company according to WA business newspaper.
Anyway keep watching.
AQD Price at posting:
1.9¢ Sentiment: None Disclosure: Not Held
