Ten million... yikes.
In my opinion many industry types need a kick in the ___ and a daily reminder that the purpose of a junior expl co is to find mines not milk investors. All too often it is charge high wages, hire your own firm at top end rates to do expl for your company (anybody hear of arms length), throw a hefty management fee on top of all that, party like crazy when in the "field" (on the company tab of course), do everything in house to maximize ones exposure to the money to be spent (even to the detriment of the shareholders), and the beat goes on... rollback in the downturns and be ready to fire up the circus next chance you get. Some groups history of destruction of shareholder wealth is astounding, but they always seem to get funded somehow proving the saying "a fool and his money are soon parted".
I am hoping that the current downturn continues for about a year and shakes all of the deadwood out of the industry. Those remaining will be so much better off.