Cash on hand is now down to $23.3 million , basicaly half of what it was 12 months ago. Operating costs are pretty well steady at $90 million per quarter , or $1 million per day.
So we are now down to three weeks operating cash. It certainly wont take much of an incident or unforseen event to eliminate this cushion. Then what happens ?? Ask the bankers to refinance the loan??
Im pretty certain there has been almost zero exploration drilling over the last 4 months. The geologists must be chomping at the bit to start drilling again , and the reserve restatement may well provide support for their wishes.