I think the figure was $2.1M from the last quarterly, with an estimated cash burn for the upcoming (current) qtr of ~$400k, so you would think $1.5-1.7 is a fair bet.
The real problem comes in the form of the Kimberley Land Council not processing their heritage clearance with enough time to give the coy a chance to secure a drill rig and make some inroads into a maiden exploration program. Or not granting it at all (less likely).
Not getting the drill in the ground this season would all but rule out a JV and with the focus off Mongolia, give the coy nothing to do except absorb admin costs and wages. That would be a terrible outcome for all concerned.
I'm waiting for some guidance from the coy before even thinking about buying back in. JMO
TPL Price at posting:
1.2¢ Sentiment: None Disclosure: Not Held