GREY:AXXDF - Post by User
Post by
greenandgoldon Sep 08, 2011 6:36pm
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Post# 19024397
Offtake Agreement Must Be Soon
Offtake Agreement Must Be SoonVery pleased the scoping study is positive and on schedule. Now let's look at the immediate future.
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ADV's current working capital: $16.2 million
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Remaining 2011 budget: $10.7 million
2012 Winter drilling budget: $3.5 million
Feasibility study budget: $5.4 million
Environmental field sampling: $2.2 million
Total near-term budget (not including corporate costs, salaries, rent, etc.) = $21.8 million
(Some of the budget info comes from the May 20, 2011 43-101 resource estimate)
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Conclusion: an offtake agreement (much preferred) or a equity offering is necessary in the very near future. It's impossible to wait until the feasibility study, ADV will run out of cash way before that.