Altitude Resources, page-10

tom-tom, the cash burn is not consistent for the entire year. The business spends much more in summer months than winter months as that is the time they are drilling. Cash burn is likely to be sub 500k per month in winter.

Also, I'm not sure you have included the line of credit in your calculations. Available cash was about $13mn June 30, I believe.

Finally, the drilling program in Groundhog North is done, so there will not be anywhere near this level of cash burn for the next 12 months, unless they start developing the other mines in the Groundhog tenement earlier than schedule. This would be a pretty high level problem for us to have and I'd happily accept some dilution top have multiple producing mines in 2 years.