You would think so looking at that and the chart. $10m in cash...

You would think so looking at that and the chart. $10m in cash end March looks great, but depends how much of the drilling recently completed is still to be paid for. In an ideal world those 8c options need to be converted and taken care of, in this market however holders would be better served to hold them as they are you'd think, so they will be hanging over heads still. Any future raise is bound to have more as well given current sentiment to raising money.
Expenses should drop right down now that drilling is completed. A mates rates raise(again) before the scoping study comes out wouldn't surprise me.