Cash burn will cause an issue toward the end of this quarter. With 895,000 spent on the reported quarter for exploration and 180,000 on admin and similar last quarter one would assume the next quarter will be similar.
So approx $1,000,000 to spend during the quarter and $1,454,000 in the kitty points very much to a CR within 6 months. Since all the options are not in the money you can't expect to gain any $'s in that.
Due to this I would expect the resource upgrade to be a selling opportunity for people looking to exit ahead of what will probably be a painful CR.
Good luck holders, I hope to be wrong about it.
Ann: Quarterly Activities Report , page-3
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