Nice read Charl. Valid points too.That said, my $50m debt...

Nice read Charl. Valid points too.

That said, my $50m debt scenario was not based on any capex for refurbishing. It is simply from looking at a number of TAM quarterly's since 2007 and understanding that more/less Coyote costs the company (when accounting for exploration/admin etc) approx $5m Per/Q to run. Given current debt of $25m as of March Q and taking interest, my read is approx $50m debt come end of Dec Q.

Decision time from management is getting close in my opinion. No more kicking the can down the road unfortunately.