Tranche 1 is not yet over the line as they have to finalise customary documentation and it only raises $A11.7mil before raising costs so maybe only $A10mil net and yet they have $58.7mil in trade and other payables at 31Dec17 and borrowings of $55.8mil(and at least $20mil falls due for payment in Nov18).
And you can bet they lost money in the March qtr as Aust corporate costs are not included in AISC and their cash/bullion on hand halved from $20mil to $10mil from Dec17 to Mar18 and you can bet 90% of it was bullion on hand as they had $10mil owing for bullion at Dec17.
SPP needs a lot of support as share price looks like going under 7c.
Tranche 2 would be very doubtful if these investors are entitled to detailed accounts prior to due date.
BDR Price at posting:
7.5¢ Sentiment: Sell Disclosure: Not Held
