Ann: Navarre secures $5M cornerstone investment, page-15

Who says they have used the money from Glencore?? That is a line of credit paid with deliveries of gold and silver and copper and at the last reported AISC and working on the 35kozpa equivalent they will pay that back with something like 7 weeks production... I don't think the Lind equity deal and the Glencore line of credit/working capital loans have anything to do with each other. Glencore keeps the mills turning and is secured by offtake of metal, the Lind money means they can drill out further near mill resources and get them into the produciton schedule faster than if they were just relying on reinvesting the margin on sales. Yes its a tight squeeze at the moment between costs and income, so I think banking some equity is the right thing to do. Next production update will be telling.