FP reported on Mackie Research analyst, Jaret Anderson on Allana Potash (CVE:AAA), a junior potash firm, on its cash position in this recent market turmoil.
The market news is quoted as saying:
He found that Allana Potash Corp., Karnalyte Resources Inc. and Western Potash Corp. are in very solid shape, with cash balances of $55-million, $35-million and $25-million respectively.
Allana can maintain its current spending pattern for more than three years without needing an equity offering, Mr. Anderson wrote. Karnalyte has 11 months of liquidity at recent burn rates, and while Western Potash has only eight months of liquidity, its spending could decrease as it is close to publishing a pre-feasibility study.