Thanks. You are absolutely correct. I got my information re their financial status from their own website. I clicked on Q1 2008, and guess what? It was not that Q but one from a year earlier! Checked SEDAR to confirm your numbers. A OK!

They may not be as cash poor as I thought, but their burn rate may be quite high. Don't know what the March airborne survey cost them. I still think that my logic is reasonable and supports sagtag's earlier comments.

geoprof