Ann: Trading Halt, page-115

I understood with the last CR that we were funded through to the beginning of next year and that the cost of the current round of drilling was covered. It finishes in Dec anyway. From the Quarterly, exploration was about $1.5m. We recevied quite a bit of cash, purchased the 50% remaining share of TT and had $5m in the bank at the end of the quarter. I'm sure better financial heads than mine can correct me if that is not right or if I have forgotten some other outlay
My take on a CR is that if the funds can be used to increase value by more than the capital raised, then that is sensible management. By purchasing TT and funding increased dilling from the funds raised last time, I think management has shown it is more than competent in that regard. I follow the arguments regarding raising from SH's or from instos. However, I see it as a much faster and efficient (cost and time) method by raising in this way. A quick review of price movement shows that SH's have reaped the benefit, as well as the sophs.
Further to my opening paragraph, given we have the cash to continue to next year when TT will be producing (God, I hope so!!) is anyone else wondering what might this $10m be for? There is the DFS I guess (I have no idea what that might cost) and ongoing expenses but I wonder if there isn't some other item of value that management might be looking at. No doubt Monday/Tuesday will reveal all.
Overall, given the SP appreciation since the beginning of the year, I think we are in good hands
Just my 2c.....
JB