Although I am no longer a holder, I believe that QPN has one of the most highly prospective tenements of all junior exploration companies out there. My only concern is timing, which is why I repatriated my investment at the last quarter of 2012. My concern, which is clearly exemplified in the cash flows report, is that of the $4.5m raised in the last 6 months, almost $600k has been spent on admin costs (i.e. predominately director fees), and a further $600k has been spent on exploration and evaluation. Considering the project is not even remotely close to commencing, I wonder what these "exploration and evaluation costs" could entail? and how long before the money runs out on admin costs and exploration and evaluation costs?
I'm hoping for holders that the drilling commences some time within the next 12 months, or else there's another $2.4m gone in expenses intangible to the project...
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