At the end of the last quarter we had $2.387M cash and a burn of...

At the end of the last quarter we had $2.387M cash and a burn of $320k per quarter. I can only guess that the burn will increase substantially now drilling has commenced ......say to $500k per quarter. That gives the team about 12 months to get a strike ...... Hopefully they get a wriggle on before the need to raise some cash,

I know this is the same for all exploration businesses but we do seem to have been treading water for a long time. Hopefully the weather holds and there are no more access problems......I have to admit I am a bit sceptical of explorers who wheel out this old chestnut every time there is a delay....the delays in my opinion are often as a result of poor knowledge of local conditions...... Bu hasten to add that this is a general statement not TMZ specific.

kippax