Ann: Santa Cruz Gold Projects Update, page-38

The next quarterly will be interesting for these guys. They had just over $2m left at the last quarterly, with $750k forecast to be spent this quarter. That gives them maybe another quarter before they'll need to be looking to raise again.

Last quarterly there was $436k in admin and corporate costs vs $844k on exploration and forecast for another $250k this quarter in admin and corporate, vs $500k for exploration. Expensive company to administer apparently with approx 1/3 of the money being spent on admin

If they don't do something to lift the share price significantly, the register will be blown beyond being recoverable, given they already have over 2 billion SOI.