This has become a race.

Cash burn vs reduced spending.

If the spending can be reduced fast enough so that the cash burn doesn't eat up all of the money in the bank, the company will not need to finance at such low prices.

Also, if the head grade goes up, even another gram, then SGR will get some breathing room on the amount of cash from operations.

Honestly, I think Ian has said some of the right things. Reducing the surface drilling is the catalyst to increased savings. The move to buyout the Wildcat claims will save money in the longer term and protects the investment already made to date on the Wildcat claims.

Stockpiling the low grade ore is the best move so far and will bring the cash costs down.

Personally, I don't see the price of gold going back to 1500 any time soon. The price is so manipulated, this is not going to happen. Unless the marriage rate in India explodes, the gold demand is not there.

With the sell off of gold ETF's burning many an investor, they will not be coming back to ETF's any time soon if at all.

I think that the battle for SGR is goin to be fought and won the old fashioned way. Don't spend more money than you make.

Thank you Ian for being a realist and not another with his head in the clouds or worst, just incompetent with a purpose.