RE:San FranThey have some hedging and were some while back stress-tested down to $1000 gold. Since then cash costs have some down significantly. Check the latest quarterly: ""Our cash costs for the quarter of $785 per ounce and all-in sustaining cash costs of $846 per ounce were particularly strong and were both 23 per cent lower than the comparable period of the previous year." So why would they close the mine? That's not a trivial decision like flipping a switch and from the numbers you can clearly see they are cash flow ppositve.
With the $20 million, they have over $40 million of cash or cash equivalents when subtracting liabilities. The balance sheet is in USD. At ESM they have $10 million and expect that to take them to feasibility.
TMM is one of the best positioned gold companies you'l find.