Dear DDD,I see many of the junior miners coming to life, so the...

Dear DDD,

I see many of the junior miners coming to life, so the risk appetite maybe returning, albeit selectively.

So we have a huge potential field, but not enough definition around any of the parts to produce any recognised business case and we need to spend more on at least one site to provide an estimated capex to breakeven.

Hence we need to drill somewhere, Limon looking like the cheapest, but either way, funds are required to de-risk the proposition.
Concurrently, our ongoing fixed costs are fairly high and will burn through in a matter of months, which may well be before markets turn

So just waiting on a higher risk environment may just leave us high and dry; no JORC or PFS, no money to drill and only lowball buyers around given the high level of uncertainty about reserves.

Not quite Hobson's choice, but not a great hand either.

i am optimistic though that management will come up with something to find some funding package and move us along positively.

wazz