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Just reviewed the last full set of accounts and the 6 month update. Spanish Point drill commitment is 16m euro. The admin and wages cash burn is only 2.2m a year. And some of this is not cash as it is share based payments. So 16m plus 2m = 18m. At the last update there was just over 18m in the bank. Also we have the court case legal fees etc to come back. So there is funds to play through until June when the loan is due. This is a 24m credit facility with 17m drawn down. So were good on funds till June and then surely they can extend such a small loan or get finance elsewhere based on the Barryroe asset.
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