$2.5 million at Sept. plus a $4.25 million raise.Don't know what monthly cash burn looks like right now but will assume they will have between 5 to 6 million in cash once the current raise closes.
If the raise is not fully subscribed or if the raise takes a long time requiring a number of tranches to reach the target we will have the answer to the promotability of Cabacal.
If the raise is fully subscribed or better yet, OVERSUBSCRIBED, any doubt about promotability of Cabacal will be removed.
Approximately half of the planned holes are twinning holes which indicates to me that they know exactly where the initial 43-101 compliant resource will be defined.
The news of this raise begins to define a direction. It's positive but they must execute on this raise with strength to really put the stamp on direction.
I suggest a portion of the funds be used for an effective market awareness campaign as drilling commences and twinned hole results start to come in. Hire a group that has a strong track record of moving a stock on highly promotable drill results.
The assumption is the holes to be twinned are of the variety that could provide some early buzz and step out drills would keep it going.
The worst thing they could do is hire somebody who tries to convince investors that value has been created by diluting the share structure while maintaining the same stock price. Insanity !
Hire a market awareness group that actually has their shhittt together.
The half warrant is pretty cool. You don't see those very often these days. It's usually associated to the most promotable stories now, where in days past it used to be the norm across the board. Benefits of an elevated metals market.
I'd like to touch on one thing TFSAfunds had to say about Sentient. I agree 100% it was a strategic decision based on writedowns on their part. Sentient spent some money. It didn't play out in the way they mapped out so they executed a plan to benefit in other ways.
Andrew Male says hello TFSAfunds.