announcement out, page-21

Their ASX releases show they had:

$13.1 million at end Sept 12
$10 million at end Dec 2013
$7.2 million at end March 2013

Spent rate is $900k to $1 million per month.

Let's assume it's now end May - means that they may have only $5.2 million in the bank. With the $1.2 million to be spent during this coming drilling program leaves only $4 million to keep the office/admin from June onwards. This means that at the most they only have 4 months before they exhaust their cash reserves.

You don't need to be a rocket scientist to see that things will get tight very soon and if they need to do a CR it won't be anywhere near the current share price?

We could see a CP raising near 2 cents given recent history of other CP attempts.