If it costs $500k per quarter to keep the company solvent...

If it costs $500k per quarter to keep the company solvent (exploration, administration, finance interest etc) then at 0.0008c this translate to roughly 625m new shares to be issued. If more and more shares are issued I will wonder if there will be buyers in the market to mop this up. I am pretty sure that the convertible note holder does not intend to hold these shares for the long haul. Each time there is an Appendix 3B issued there is a rush of selling. There may be enough buyers to say 100-200m shares but if another billion shares are issued over the next 6 months where will the buyers come from.