Its quite reasonable given that they had 700k cash in the...

Its quite reasonable given that they had 700k cash in the September quarter. With the increased drilling as well as the admin costs of the NMDC deal and office relocation, it is quite easy to see how they could have run out of money by now.

On the bright side, it is only 1M and would hardly cause any dilution. It is also likely that the payment may be drawn from the existing ST facility of 7.6M. Once the 19M comes in, I think the ST facility will be terminated as the funding no longer provides value for money. It is a shame that we could not obtain this loan from NMDC but I am guessing their hands are tied until the EGM vote is through. I also presume that the main reason for the urgency is actually related to meeting their target (agreed with HAW) for taking 60% ownership of Mt Bevan.