B M, hi.......they have just had very large (by small cap standards) CR's, c. 1.6m $ I think.
There is an Unaudited Pro Forma Balance Sheet which states the cash and cash equivalents as pretty much now will be $1.5m plus change. I doubt even our company could have run that down to 200,000 already( though these days nothing would surprise me).
They have set out a (changeable for circumstances) draft budget for the intended application of the $1,698,782 raised to include, inter alia, "Exploration on existing tenement portfolio: 683,403";
Working capital: 354,502;
Due diligence and investigation of new acquisitions: 250,000, etc.
Regards.
Ann: Consolidation/Split - BML, page-14
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