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3. Even with his numbers, he stated CUU average G&A cost is $1.2 million per year average, we should still have 3 years time including a PEA on VD. However, I remember G&A should be much less than $1.2 million a year. He claims an equity offering is the best scenario but EE can always lend CUU the money if that's the case. Or spinoff Desert Fox and Northern Fox. I think we've touched the dilution argument enough times.

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Not including a PEA on VD. Unless I am mistaken, this cost is not accounted for yet and could be 2mil or something (I have zero clue what this PEA would cost)? Please correct me if I am wrong.