Was thinking the same thing. I am guessing they will now run over the $15M budget estimated for the sulphide expansion...and the cash & available credit facility of $18M will be much the same at the end of the March Q?
Will production be affected in the March Q, or potentially June Q with commissioning in April? as per December corporate presentation on page 7 it shows production down from the December Q...which I can only assume would have been the commissioning of the sulphide expansion?
I think a decision on Golden Gate U/G will be soon, but put on hold until second half of the year as they will be watching the $$$.
This is why I still don't see a significant rerate until after June Q (unless pog jumps), even if we get a reserve upgrade as it's only estimated to be another 100,000oz.