Correct me if I'm wrong as I'm not near my computer atm, but the $6M gold bullion debt you have in your calculations is not an actual debt, but a loan facility, meaning they can borrow up to $6M US and repay back in gold bullion should they need further money for further exploration/processing/any other purpose.
This was done in order to not dilute the stock.
Also if you look at the last presentation (around August timeline) they mentioned the $9-11M amount of gold is for a duration of 6 months of mining.
Please confirm this as I am just going from memory.
Correct me if I'm wrong as I'm not near my computer atm, but the...
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