my69z,,,, good attempt at finding out .
The problem I am having is that I don't know what Orbite mean by "incurred". This is what bothers me about this company. They will not just come out and give us the straight dope. We have to guess all of the time and read between the line of the "language " that they use.
Looking at it from a different angle I see it this way,,,, $19 million cash on hand
- $14 million owed to the construction contractor
- $10 million (??) for the calcinator
- $1.5 million for interest on the debentures to end of 2013
-$ 2.5 million (?) for commitements on the land claims
- $1 million per month burn rate x 8 months= $8 million
That adds up to +/- $ 30 million minus $19 million cash on hand = $18 million short not including anything else that pops up.
Maybe it's only $15 million short if the calcinator costs less.
Granted this is just a quick "back of the napkin" guess and it is to the end of 2013 but it just goes to show that Ort can't try to squeek by. It will end up being a disaster.
They need to raise money. How much? I figure at least $20 million but I would rather see it be 30 or more just to be safe in case there are any more suprises during commisioning and no revenues at all.
It is going to be expensive to raise but at this point it has to be done. We can't get caught short of cash again. Time to get on with it.