best gold stock 2011, page-14

Hi Mbeard

I may be wrong but I thought they had 33m in the bank last quarter
and now despite what initially seemed to be a great quarter the bottom line is that they have 2m less in the bank.
I assume it is all being spent on major capital projects or something that does not come under "costs".
My concern is that they cant seem to accumulate cash to pay the loan of any faster than scheduled.
Things may turn around and they may start to be able to reduce their miscellaneous costs that are eating up all profit but havent seen this yet - I thought it would have happened this quarter and was upset it did not appear to happen

Please correct me if I am wrong

Rumot

PS what is the 18m you mentioned - is that the environmental bonds?