Ann: Toronto Listing Update, page-38

Yes, Esh. I was thinking similarly. Re-allocation of funds owned across time (ie, for MACA) to reduce short-term cash requirements and, thus, give more time. This was is what I meant earlier about MACA loan being a Sprott replacement in terms of cash flow demand.

But as you say, short term cash availability also depends on results this quarter. The December 2017 quarter was quite good at 48k ounces. However, March 2018 was considerably lower at 26k (46% down), although it was similar to the March 2017. So June will be important. However, I wonder how distracted management have been throughout the quarter, with listing and financial matters, in terms of operational performance. If so, June may not be that good.