RE:RE:Stop Loss orders perhaps? You could be right.
There are a lot of moving parts in the cash position quarter to quarter - increase to ore inventory due to shipment timing, timing of $10M annual payments to Sojitz for the 12.5% additional interest in Gib, the costs of increasing credit facility arrangements not yet drawn upon, etc.
They have plenty of financing options arranged already, and more options available if necessary.
The leverage condition of TKO is pretty obvious, they have firmly bet the farm on Florence.
If, for some horrific reason TKO doesn't receive the final permit, the farm will go to auction. If Florence goes through, the leverage will be in TKO's favor... I'm optimistic on the latter.