Cash Burn Rate 2009 est. (MD&A p.34)

HIGH-GRADE NI-CU-PT-PD-ZN-CR-AU-V-TI DISCOVERIES IN THE "RING OF FIRE"

NI 43-101 Update (September 2012): 11.1 Mt @ 1.68% Ni, 0.87% Cu, 0.89 gpt Pt and 3.09 gpt Pd and 0.18 gpt Au (Proven & Probable Reserves) / 8.9 Mt @ 1.10% Ni, 1.14% Cu, 1.16 gpt Pt and 3.49 gpt Pd and 0.30 gpt Au (Inferred Resource)

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FANTOMAS

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Cash Burn Rate 2009 est. (MD&A p.34)

posted on Aug 29, 2008 06:42AM

The expenditure rate is expected to increase in 2009, to approximately $60 million a year, as the Company further expands its drilling programs in the McFaulds Lake area.

This will boost the cash burn rate to $ 5 m / month, so the current estimated $ 4 - 4.5 m wouldn´t be far off.

Question is, when is Richard going to the markets with $ 55 m end of April 08 ? Especially with a Windfall spin-off seperating the two major assets financially.

Another interesting tid-bit is the expiry date of 4.8 million warrants (weighted average exercise price of $ 0.75) , expiring DECEMBER 08 (keep that in your books).