Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-15

the highlight is that there is 45m cash, and the burn rate has decreased from 5 rigs to 2.
And previous was inclusive of an additional 4m option payment on renard.

The point is, that the 2.1m quarters cash remaining, is a technical calculation, and in flux when the underlying spend is altered. In this case, projected forward burn is reduced, hence number of quarters cash is extended.

That will extend cash well beyond the release of the brownfield PEA anticipated in Q3.
The suggestion you make of a raise at 50c is not timely, given the extended number of quarters of cash,
nor the effect of the sp, when taken into account the market reaction of the PEA presented, or the potential of a strategic that may occur when PEA in hand, all of which may change the sp, or that a strategic could put cash in at a project valuation level?? rather than a prevailing market price. ? Have you ever heard the words, "premium" in regard to equity issued ? If the exchange of guarantee of supply be paired with a higher premium of any equity considerations.