4C, page-22

My understanding of the Cash Flow report is that staff/admin costs were $141k for the quarter. If you assume that majority of Q3 exploration costs relate to Riqueza and therefore funded by S32. I am of the view that S32 are waiting for the final results of the IP survey, which should be forthcoming within the fortnight, before proceeding with Tranche 2. If ICG quarter costs continue around 150k per quarter without incurring new Australian exploration costs then there is sufficient cash until EOY. Hope this assists fellow SH.