Hey Chris
Surely Cash is not a problem, as they get another $5.5 mill when the 20c options get converted in April 2009.
IMO the main problem lies with the tone of their reporting which to me always comes over as negative. For the casual reader they should be emphasising that they are trying to extend an already proven resource in Area 1 so these results are not really that important when viewed in that light.
For me I am interested in their intitial resource estimate for the high grade Area 1 area (surely that would not be too difficult to produce) and what the initial drilling that was done in Area 3 shows up.
Armour
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more poor drill results announced today, page-6
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