opinion on mgmt actions in current climate?, page-17

Their expenditure predictions are a fairly standard $400thou. for E&E, and $300thou. for admin. each qtr.

Usually end up more, but last Qtr. E&E significantly down.

A dollar amount has to be 'spent' each year to maintain a mining/exploration lease. Doesn't have to be drilling, can be as simple as a GEO. going out and kicking a few rocks around.

In PDYs case, around a maximum of $200 thou. per year, would be my estimate.