True, but they still have $1.0M left in the loan to draw on, so plenty to keep the coffee and bikkies in the board room for a while, so not an issue in that respect.
The biggest hurdle is funds to drill M1 deeper and the new M5 hole. I wouldn't think drilling M1 deeper would be that expensive, however M5 will be a different animal.
IMO of course...
Ann: March 2016 Qtr Activities and Cash Flow Reports-GGX.AX, page-4
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