Ann: Quarterly Activities Report, page-2

A pretty good quarter imo
Takeover of Cascade launched
This will add significant value by bringing all projects into TNR 100% and make TNR a far more attractive investment proposal.
Successful drill campaign at Mt Stirling - nice shallow, high grade hits. Follow up drill program being planned.
Target 18 and 19 tested with very encouraging results. Further drilling is being planned to test continuity between mineralized zones.
Credo well drilled. Results pending. Am looking forward to these results, the historical data looked to be very good grade.

$1m cash means that they will have to raise more $$$ at some point over this qtr or the next. I would like to see them raise a solid chunk of cash this time round ($10m) to avoid the need to come back cap in hand in a years time. The merger should support this imo