According to the quarterly cash flow report for June they will have $2million in cash at the end of September plus they expect to receive in the September quarter the Research and Development tax incentive grant which last year was $2.3million. So cash at the end of September should be approximately $4.4 million.
Consequently according to my calculations no cash raising required until November.
I would expect that by November with all that is happening in the Uranium sector the share price will be well North of 10 cents.
VMY Price at posting:
9.4¢ Sentiment: Buy Disclosure: Held
