I don't think we will see much of an impact. The actual warrant extension is mostly insignificant. Shareholders are frustrated, but that's been the story for quite some time so that should not have a huge impact either.

Here's an optimistic interpretation of the warrant extension. It's reading between the lines a bit, but it's plausible.

- We are extending the warrants to keep Ernesto happy

- We want to keep him happy because we may need funding sometime soon

- We should not need funding for the feasibility study. The last PP was reduced indicating that the cash was not needed. The cash burn rate should be quite low if the feasibility study is in the review phase.

- What could we possibly need funding for?

- A joint venture with Teck.