Yes I'd agree with $8-10 million. In the last 4C, estimated cash...

Yes I'd agree with $8-10 million.

In the last 4C, estimated cash outflows for first quarter 2018 included $200K for R&D, $519K for staff costs, and $300K for Administration and Corporate costs. That is around 4 million dollars for the year if it continues at that rate for the rest of the year. Much of this expense is likely related to development of Kidston Stage 2 rather than operation of Kidston Stage 1.

On the plus side, GENEX is not likely to be paying taxes any time soon:

http://www.aspecthuntley.com.au/asxdata/20161004/pdf/01785834.pdf