Agreed. Total cash burn was $730k last quarter with $376k spent on exploration.
Given the drill program that just commenced is also 3000m (same as last quarter) then expected cash burn would be assumed to be very similar. That would leave $1.9m in the kitty at the end of this quarter. All this should mean that we at least get some results through from the current program before they raise any money.
If the down dip holes around SPRC007 return similar or higher grades then they should be raising at a much higher price
Ann: High-Grade Results & Drilling Recommences at Spur Project, page-46
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