pan concentrates up to 6864 g/t gold, page-10

The way I read it is that we have a further two $1M coming in Feb 22 and May 22 no probs. Aug 22 was dependant on 'subject to regulatory approval for the transfer of leases'. This may take up to the year stated by Mintails? However, the final $3M is payable after the first $5m payable due to the interim contract - which I take to mean after the May 22 payment - and subject to certain targets being met - which they seem to be.

If I read that correct only $1M Aug 22 payment may be delayed - but only until about this time next year at the latest? If this is correct then they should have enough funds to last into early next year - then the final $1m which should see them ok until almost mid 2014?

If they do not have anything happening by then then the situation is a lot more screwed up then they are letting on.