Admin costs way too high for current activity and location IMO.
Now at cash backing and looks like 1 mill a qtr burn rate with not much on near horizon.
Plenty around with inventory and sub cash backing.
Traded then from low 2s during small parcel sales for 100% last time.
Patient for right time to re-enter, now that in drift mode now again.
But cant imagine serious development near term without the Chinese involved.
Why did they move out?
Opinion
Ann: Quarterly Activities Report, page-7
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