When the options expired out of the money I had a suspicion this...

When the options expired out of the money I had a suspicion this was on the way and that's why I sold out to preserve my capital.

Don't forget there is also a loan at pretty solid interest rates the company needs to cover. I can't remember the specifics, someone more enlightened please elaborate?

All the activities that MAY want to pursue will cost money - also you don't want to end up in a position where the company ends up with no cash in the bank and potential farmin partners decide to wait a while because they will be able to swoop on you for cents in the dollar rather than sign a deal that costs them more.

It sucks but it seems to be the rinse and repeat cycle that MAY is stuck in until they have a confirmed drill date to work towards.