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clock Created with Sketch. 18/07/18
17:29
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Originally posted by Lazarus65
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Ex....not so sure about the need for cash being that far away. As you say, 9m aud by end of this coming quarter based on projections. Those projections include 4.8m "exploration and evaluation" costs, which I imagine would include 2.1m aud for our 40% of SOA bond payments and payments to GB (gross amount is 3+0.5+0.5 in usd; exchange rate of 0.75; and our paying interest is 40%).minimum , till the end of Q of the western blocks 'drilling quarter'. If current run rate of 1.4m aud per quarter for staff, admin, corporate and other costs is maintained - then the 9m aud at the end of this coming quarter reduces to 6.2m aud. And our share of the Nanushuk well, to dry hole status, is 8m aud. And we would want to have a few mill in our kitty at that stage for any potential follow on initiatives.
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Hey Laz Spot on for cash being the focus here I think DW would not have committed to the recent deal (88E funding most of it up front) if he didn't have a plan for the cashflow over the coming Q3/4 Hope it is not just a another CR tho :-( Did I read somewhere his Masters Degree is Finance ?? Anyway look forward to him sharing the news on this part -- hope not too much longer or we will see SP slide further and only pick up back to 2.5 -- no goo for us sitting long in the red
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