Ann: Quarterly Cashflow Report, page-7

Yes, agree.

The appraisal work is planned to begin from October.

By then another 12M will be used up.

Leaving about 32M AUD left.

Convert 32M AUD into USD - depending on where the hedging is (if any);

At 73 cents......23.3 M USD.

At 75 cents......24M USD.

At 80 cents......25.6M USD.

At 90 cents......29M USD.

In addition to appraisal costs, there are administration costs (salaries and office expenses).

IMHO, its not enough - we need enough cash and a bit of buffer for emergency.

A CR is almost a certainty before the end of September.