available cash is 530K
and outflows of $274K for the next quarter (The quarter we are in), this will be the money in evaluating and mapping redmoor (external consultants for the most part) and trying to progress a deal for Lochinvar. There is only 30K slated for exploration this quarter as they aren't drilling again until June, which is a different quarter. all up should leave 250K roughly for the next quarter for redmoor exploration. They are definitely going to need some additional funding at some point....but they should have a JV on the hook for Lochinvar by then or be able to generate a convertable note or CR. Only 400 million shares on issue so some room for share issue if it gets one of these projects fully developed.
NAE Price at posting:
0.9¢ Sentiment: Buy Disclosure: Held
