Not sure about oily rag. 1.6 mil at December 31 and the current drilling isn't costing them as its drill for equity arrangement, and the 2.68 quarters left would mean they're funded until mid Q3 or so. Obviously the CR will come eventually, but I doubt its until after assays are back as you mentioned.
Ann: Major Discovery 1km plus High Chargeability Target Found, page-236
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