cash declines, page-2

It surprises me that there was no mention of an off-take partner regarding project funding. This has been mentioned multiple times in previous market releases.

"Northwest has had strong interest from some of the largest Chinese antimony producers. Potential off-take partners are also substantial gold producers." --> Proactive Investors.

An offtake partner would significantly de-risk the project. Although, given the current market environment I can't see the share price reflecting the project's potential until concentrate starts shipping.

However, project seems to be advancing nicely. I liked these statements in the quarterly.

" The mine design incorporating detailed planning of access, declines, level development, ventilation and second means
of egress is complete."

" A limited amount of further metallurgical work is required to improve understanding of grade-recovery relationships, upgrade the sequential iron-gold concentrate and to
gather information required to consider retreating historical tailings."

Sit tight.