not groundhog day, page-7

CTO's cash at the end of the quarter was $377,000 (see 1.22) with 4.1 "Exploration and evaluation" estimates of $1.5 million for this quarter plus 4.2 "Development" expenses of $3.5 million which were erroneously totalled at $4 million instead of $5 million.

However as CTO has continued operating since the end of the December quarter, it is obvious that CTO has access to much more than the $377,000 "Total cash at end of quarter" item 1.22.

3.1 on the cash flow statement is required to mention the total loan facility under "Amount available" and the amount used from that facility under "Amount used" imo.

As presented there is no ambiguity. CTO has a loan facility for $15 million and has used the $15 million. In addition there are no "credit stand by arrangements."

So as CTO obviously appears to have access more funds, presumably under "Loan facilities" then the cash flow statement needs to be amended to reflect that imo.