Spending for the last 6mths is about $1.85m or about $900k/Qrtr....

Spending for the last 6mths is about $1.85m or about $900k/Qrtr. About half of that is on Exploration $950k (6 mths) or $475k/Qrtr. 

Exploration Expenditure is eligible for a Govt Rebate of 43.5% (150% of the Corp Tax Rate of 29%) and if you look on about page 4 or 5 of Append A it says:

"An R&D Tax Incentive refund of $279,000 is expected by the end of March 2019."

Thats the first one - for the June Qrtr of 2018 (time lagging to receive). If we assume Exploration Spend'g is about $500k/Qrtr, then from now on we should be look'g at regular Refunds of about $215k/Qrtr (43.5% of $500k).

So that eases the cashflow burden & provides Exploration Incentive. So instead of spending $900k/Q it will be more like $700k. 

With about $2m in funds that's about 3 Qrtrs of Fund'g which is always biggest concern. However the Options also kick in along the way. But I don't think Cashflow will be an Issue when we receive the next Qrtrly at end of April.

I think there will be big developments that provide ongoing Cash.