This is an excellent thought:
Exploration work at Cosmo does cost money.
Luckily, Sarama thought of that early and topped up the bank:
They raised $2.6m in July to fund the Laverton/Cosmo work.
Check the recent ASX announcements.
And to clear the air:
WA doesn’t have a $500k flat minimum.
The statutory minimum spend is per tenement/block and graduated. I assume a fragment of $500k.
Bottom line:
Fresh cash + structured obligations = far away from "trading while insolvent"
But: Do your own research.
