Hi Sarg,
I seriously doubt that with all the drilling & exploration that has taken place this quarter ( not to mention admin wages etc ) that we would be currently left with $5M. That would mean that so far this quarter ( which is 83% expired ) only $570K would have been spent. I'm my experience Peels estimated outflows for each quarter are usually on the money if not a slight underestimate. The only significant exception being when they have received research & development refunds.
I will be fascinated to learn if there has been any capital inflows that we have so far not been made aware of.
depth, page-16
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