shd 2nd shipment, page-2

SP down significantly again today. Key problem that I see is the budgeted cash outflow for the December Q exceeding available funds. Assuming cash on hand + available funding line + assumed revenue from 2nd tranch of ore are fully utilised I cannot see how this could cover the stated exploration cost + admin costs for the next quarter without CR or further borrowings. Still rate a long term buy given quality of resource and IO price.