Working CapitalIn assessing whether a company needs to raise additional funds financial analysts look at the working capital position not solely the cash in bank. It does a company no good to have for example a $20M cash balance but invoices totalling $25M that have to be paid. That is why they look at the working capital position of a company which is by definition (current assets less current liabilities). In the case of Maple Gold at the end of March they have currrent assets of $9.5M which includes the $8M in cash. However they do have current liabilites of $2.8 that have to be paid which gives them a working capital position of $6.7M at the end of March.
Historically over the last 2 years the burn rate has been $900k per month of which $500K per month is related solely to general and admin expense.
On the bright side the worst case scenario is you can now only lose .085 cents per share.