cash backed with 3 nickel projects, page-4

I also got sucked in at the float. At that time it had $15million cash and the argument at the time was it had around 15-20 cents cash backing. I sold out most of mine at 12 cents at huge loss. No confidence in management. On past experience the cash won't last long and then it will be another penny dreadful scrapping around for a rights issue to survive.