It's impossible to say, I'm afraid. Are their backs against the...

It's impossible to say, I'm afraid. Are their backs against the wall and this the best they could do? Is $15m plus whatever extra all they need to get to a positive cash flow?

I've got no ideas what the answers to those questions are. Or even if they are the right questions. Perhaps there will be come information in the webconference tonight that will be useful.

All, I know is that they have $1m in the bank at then end of March (from the last 4c), that they will need to pay about $1m for the CR, that it will cost about $15m to put up the 20 Pearls they mentioned in the SPP notice, that they burn about $2.5m a month. And that those numbers don't add up. There's not enough to make it until the Pearls are going and it's possible that they'll need cash again as soon as 1 or 2 months if they are already burning into the CR money and that is needed for capex to build and launch the Pearls. Maybe the Diamonds will deliver $3m in 2018.

So, by my reckoning they are $7m short. $15m to launch the pearls, $10m in opex, minus whatever they get from the Diamonds (maybe $3m). Unless there is a crafty plan, then I think they need to raise more cash.

The thing is that these financial challenges are just as obvious to them as they are to us. So there will be a resolution. I just hope it's a good one as I would hate to lose on this one.