Any pp would sure upset me and most retail investors but not sure I agree that " cash is good for the next year". We just don't know how much money the Noront Management managed to burn thru since their 'take over'.

My feeling (not backed up by numbers) is that there is money for this summer and fall exploration program but I'd want to see some numbers before assuming they can keep up the current rate of expenditure right through winter season.

There certainly is a risk that Noront will be headed back to the trough at some point although always potential 'major' coming in which would take off the pressure.