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SUR raised $4m last year through convertible notes which was to fund thailand but not much has happened with only $233k spent in the fourth quarter on exploration in total and their cash position at $3.9million in december from about $4.5million in october.
The notes are costing them about $500k per year and the new conversion rate is at 6c now,so maybe that's their aim to at least reduce cash burn.
With drilling costs this quarter who knows their cash position now but another $4m could be on the cards for the seismic and redrill in thailand.