Jennym
As of December 31, all Directors fees will be paid in shares (30 day VWAP).
So if there is no exploration, there is enough cash for a while yet. But inevitably there has to be a CR. If they get the current term sheet agreed by March 31, we should see some SP appreciation so that CR is not at too low a level.
Also other agreements have been renegotiated to reduce costs. No indication by how much, but it shows that the Board is working at keeping costs under control at a time when cash is low.
Ann: Quarterly Activities Report , page-3
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