Bit of a cash problem also:
Cash balance at 31/12 = $11.5m
Less projected Qrtly spend of ($5.7m)
Less CBA debt due 'end of March' of ($5.3m)
That leaves STX heading into 1 April with $500k in the bank with WE to drill, Jaws to continue and Corporate to feed.
They are sweating on renegotiating the CBA debt I suspect, otherwise another cap raise is on the cards.
Even if the CBA debt is renegotiated, things could get really tight around May/June once WE commenced.
Ann: Quarterly Activities Report & 5B, page-25
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