There are expenses for office & staff, plus the cost of preparing financial statements, NRs, corporate accounting, etc. Hopefully it won't be nessasary, but it could be a few years down the road...

If a statement was made that they have a clear contingency plan for long term survival regarding SC it may allay some fear that may be keeping investors on the sidelines...

Maybe keeping everything on hand may be excessive, but 3 years worth of operating expenses would be prudent.

They have been spending money pretty fast - the liquidity event is depleted to about 2 million or so? That doesn't send a good message to the market, and they have publicly stated significant plans for spending more on the early stage projects.

Read the other boards, there is genuine fear of consolidation/funding.

The company should state publicly that they are aware that SC is where all our value sits, and that they have a plan to ensure long term survival and protect it from consolidation. Look at what Teck has done - stated they are going to be financially conservative so their shareholders don't need tpo worry. What is wrong with that?