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
