Ann: $1,642,500 Equity Funds Raised, page-10

If the Av Drill Hole is 450m @ say $120/m, that's a cost of $54k/hole or 10 holes for $540k. That's a lot of potential strikes especially as each hole provides new data to fine tune the model.

I would think that the chances of hitting pay dirty in the next 10 holes are really good and still leaves $1m untouched. Of course there are Other Ongoing Expenses but the Quarry Income and DoD Revenue go close to offsetting these.

The other wild card is the PASS & that could be decided this Qrtr or early next Qrtr. You may wonder what the chances are of getting PASS Contracts but there has been no reason to doubt NAGs is a front runner, despite the empty rhetoric from some would be detractors & personally I'm expecting Contracts will go to NAGs in PASS disposal.

Time will tell but this NAGs race day is coming up imo.