Start Mining 2019 Copper, Cobalt, Zinc, page-17

Ok, think I’ve worked this out after a quick re-read with a clearer head.

Total debt inc capitalised interest about $36mill.

Less $6.8mill from warrants
Less $15.5mill payment in Dec 17
= $14.15mill balance as of Jan 18.

Less $5mill from SPP in Feb
=approx $10mill balance (allowing for some more interest)

So that leaves about $14mill for drilling and development studies/working capital in 2018. Plus whatever was left from the $5.2mill they had at the end of Sep (let’s say $4mill odd).

So my guess is about $17-18mill cash in the bank and debt fully covered, assuming warrants @16c taken up in Dec 2019.

Not a bad position.