cash bal., page-2

even the slightest bit of research would pull up what they have in the pipeline. Near term they have Pedra Branca from AVB that is in the DFS phase will need $120 mill to get going. then there is pantera and Centro gold ~100 mill for Centro could be up to 200 for Pantera. there is some Capex for some of their current mines coming up as well.

that pretty much burns up all the cash reserves in the next 2 years. current income will probably go towards divs and further acquisitions. its a great place to be ~500mill in cash but that can and probably will get eaten up quickly