So yes it does seem the presentation was accurate $2m cash on...

So yes it does seem the presentation was accurate $2m cash on hand.

I guess about $300,000 was spent for the cash payment part of the Tambina mining tenements (which, are not included on the permit list on page 3, I have contacted the company to address this )

Then there's the cost of the mining rights application in SA which would've been expensive (and probably included in the "production" ledger).

The company says the SA project was still cashflow positive, maginally lower than monthly targets, so I would guess a 10% margin would be suitable - my guess would be $225k per quarter cashflow.

So essentially it's been a difficult quarter in terms of gold production but the company managed to pull off profitability, and the reduction in cash is due to spending on Tambina and ramping up in SA.

At the end of the day the massive resource (with potential to increase with minimal expense), near term increased production in SA and potential to start near time production in WA is what gives this stock its potential to be a multi bagger.