Yes, and 785K estimated outgoings this quarter, and that’s if drilling started last week. Every week they delay drilling is costing them money and thinning the already tiny balance predicted to be remaining at the end of quarter.
There comes a point where it is irresponsible to start a drilling program when you are going to have less than 100K in the bank after it’s completed and you can’t pay your staff or your bills. As it stands now the cash on hand allows pretty much no wiggle room over 785k. If the drilling takes longer than expected, extra equipment is needed the list goes on. Not to mention assays? Are they planning on getting the samples assayed or is it just a case of “the strong management team will cross that bridge when they come to it”
We are getting very close to that point now, tic toc.
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- Ann: RIU Update Presentation February 2018
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