Hi all,here is the reasoning behind my last...

Hi all,

here is the reasoning behind my last comment.

 

	Expenditure  in  $’000.00s  by  Items  in  Published  Quarterly  Cashflow  Statements
QUARTER  - ending	Exploration & Evaluation	Administration and Corporate Costs	End of period cash & cash equivalents
Sept  30  2017	$297,000	$112,000	$1,799,000
Dec  31  2017	$574,000	$328,000	$3,844,000
Mar  31  2018	$528,000	$140,000	$3,163,000
June  30  2018	$754,000	$149,000	$2,263,000
Sept  30  2018	$492,000	$165,000	$1,608,000
	Avge    $529,000	Avge    $178,800
	MY  SUBJECTIVE  GTE  CASH  EXPENDITURE  PROJECTIONS  BELOW
	Adding  both averages                $708,000 And  assuming  same above usage  Dec 2018		NO  NEW  CASH  RAISING  SCENARIO	Proposed Cash Raised at Nov  2018  AGM*  (*see AGM  notes) 0.35C    Min  $483,105 0.7c    Med  $966,209 1.4c    Max  $1,932,419
Dec 31  2018	Avge    $529,000	Avge    $179,000  rounded	($1,608k - $708k) $900,000	Add $900k to raisings $1,383,105; $1,866,209; $2,732,419.
Mar  31  2019	Avge    $529,000	Avge    $179,000  rounded	($900k - $708k) $192,000	Add above to $192k less $708K $675.1k;  $1,158k; $2,024k
June  30  2019			-------
Sept  30  2019

 

As you can see from the above, without RESOLUTION  4 next week GTE  ceases to exist by June 30 2019, on its current projected cash consumption expenditures.   A minimum raise at 0.35c takes us only up to June 30 2019, while a projected maximum raise takes us into 2020.    OF  COURSE any discoveries in the meantime changes   ALL  OF THIS;  as does any new partnerships that GTE management may choose to engage in over the next few months.

 

Once again, fingers crossed for our drill results, both this quarter and in early 2019.

 

 

Bluequartz