another deal with tcm on the way

(The subject is a question by the way not a statement - can't put question marks in the subject line.)

At the moment HRS appears to be low on cash - certainly it doesn't appear to have enough to fund the buyback that was announced.

TCM has just raised another $600K on top of the $2.6m still left from the recent IPO despite the fact that projected cash outflow for this quarter is only $350K. On top of that it has agreed to transfer 51% of its coal interests to DMA in return for DMA basically funding TCM's exploration obligations under TCM's own farm-in agreement.

Begs the question why has TCM raised all this cash when it appears to have palmed off most of its expenditure obligations? Is it about to acquire an interest in any further projects from HRS? This could also explain why no meeting has been called as yet to approve the acquisition of the royalties by TCM despite the announcement being a month ago as there may be another deal to be put to the meeting.

Please note I hold TCM but do not hold HRS.