Dear RR

Based on Jennifer's response I would suggest that your findings for Q1 apply to Q2 with minor variance as expected.

Hello Paul,

 

With regard to the $3.2M of financing expenses, about half is attributable to the current service costs of the Capital Royalty loan. Almost all of the rest is non-cash accreted interest connected to discounted future royalties payable to Industry Canada based on forecasted sales.

 

Sincerely,

Jennifer