i am very surprised at the cash burn rate. I expected vango to downshift to conserve cash, rather than spend $1.5mm on exploration in the quarter. Per convertable bond indenture with mutual fund, vango can't get hold of the funding from 2d tranche of convertable bond any earlier than 12 months after receipt of 1st tranche, so no earlier than May/June 2023 can vango get more funds from the mutual fund. If cash burn rate remain same, vango A$2,913,000 cash unlikely to last until the new year. Large lawyer fees must be paid from cash since vango cannot afford to go unrepresented in front of wasc with dual lawsuits in progress in front of court. Vango also appealing in front of wasc, paying $650,000 of Superior Gold legal fees as ordered by the justice in his order, 2021wasc459s. If wasc judge rules in Superior favor soon, this $650,000 of outgoings will put even more stress on vango balance sheet.
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