Currently, drilling our 4 next gold projects is proceeding only...

Currently, drilling our 4 next gold projects is proceeding only at a minimal pace. Officilally, this is to conserve cash for the DZP.

ImO, that's penny-wise but pound-foolish. Basically, with the TGP producing well and a DZP capex of 800 mio + contingencies, having 10 mio more or less in the bank does not make any real difference, neither for our SP, nor for our viability, nor for financing, nor for the timeline.

OTOH, it still takes 2 years until we have to pay a big part of any DZP capex. That's more than enough time to do a second McPhillamys ( http://www.*.com.au/companies/news/...e-of-orange-district-joint-venture-36026.html ).

So what I'd do is take 4 mio, spend 1 mio each on our 4 current gold prospects and determine the 2 best among them. Then I'd spend another 2 mio on those 2 each. If lucky, we have proven 1-2 serious resources by then. Else, spend another 2 mio to finalize the best project. Sell it for 50 mio and spend another 2 mio getting project no 2 ready for sale.

If things go well, that way we will have another ~100 mio availabe for financing. If they don't go so well, the drilled projects might as least serve as security for better loans. Considering that - as said above - 10 mio more or less don't make a difference right now, I think it's the evident thing to do.