Good morning don,I think that the company is in the happy...

Good morning don,

I think that the company is in the happy position that with the grade control done and with the second plant to be open in early June cash flow will increase markedly. After the near surface high concentrations have been marked for picking over to increase initial cash flow, it is mining the Quartz lease and then expansion to the higher grade western leases. If one infers where 100-125,000 ounces and a million ounces of silver leads one in terms of the current silver and gold prices, after removing a commercial fraction for extraction, any debt and interest expense is chicken feed. Comparatively speaking, the company should be making a huge amount of cash. There is much to be said for Dalts view that a consolidated loan from a bank at lower interest would assist in a buyback, but I suspect the share price would respond as soon as that is announced.

Then again, the company may wish to fall back to its base position of paying the debt as an when it falls due. An extension of the loan, though not desired is not the end of the world considering the cash flow. For the first time since 2016 the company will have two operating plants and mining higher grade ore and not stockpile. In those circumstances, prospective financiers will have very little to worry about.

Then they may not have to consider litigation risk in making loans, should the events of 30 June 2024 not intervene.