Originally Posted by
Joshuatree
Im trying but pretty slow collating etc. Please correct or add to this (anybody)
Im guessing expenditure will increase greatly as they develop the mine so how can you estimate the cash burn accurately like that.
$387,163 for qtr gone and $506,650 set for next qtr
$5,334,000 cash nice
"Proven Reserve of 28,800 oz AU
Measured Indicated and Inferred but not yet proven 312,800 @ 22gmT nice and lots more to prove up too.
Based on current plans the company is fully funded for completion of the Talismandeeps resource modelling and completion of prospecting and Bulk sampling through to2020. The Board will consider acceleration and/or expansion of exploration andextraction plans subject to funding. "
That last line is important and quite likely, speeding up, and could mean a cap raise for development as opposed to just bulk sampling and prospecting. Im guessing Shareholders would support a cap raise if things keep going as well as they have.
The operation looks pretty original and one would think lots of dough needed to upgrade to work it and for safety , mining equipment, fans etc
The talisman was mined on 16 levels and good access is available only in level 8 currently where sampling and drilling is in progress.
With narrow vein mining it can be expensive to drill out a reserve and at times miners don't bother; just follow the veins.
All in the timing re bulk sampling paying for costs and creating cashflow and how much waste around the veins has to be taken out, delays, injuries etc.
You may have re 20 million shares Jonu costing re $65,000 now worth re $377,000 plus oppies maybe, congrats esp being derisked and multi bagged and if free carried :)
Many others get in early and free carried, multi bagged?