Today's announcement is a little odd, hoping someone can help me...

Today's announcement is a little odd, hoping someone can help me understand this. They're making a director's loan at a damned high premium to the company, repayable either upon recommencement of trade (but they don't have enough cash) or upon raising $1m through a CR.

I hope the CR raising is successful, but it will leave them with roughly $830k minus regular ongoings to get their initial exploration program running.

They have begun the VTEM survey, which should be complete soon and based on the indicated quarterly expenditure must surely have already been paid for?

Is the 830k enough to commence an initial drilling program?