im staggered how much this stock burns cash compared to my other small cap mining stocks [ in and outside of africa ] sure we are fast tracking the Graphite but lets keep these $ under control
ok sure we have the legacy leases in Adelaide and Perth because of the SA iron ore mine but come on lets pull in the purse strings a little bit
btw - unfortunately i was right on the amount of cash we actually had left and we urgently needed to do that cap raising even though we had the fig tree $ coming in [ see my posts a few days ago ]
[btw im not happy about this fact - just had a feeling and the previous burn rate numbers seemed to show that ]
the whole idea is we make +cashflow from operations - but at the burn rate we will need to sell alot of product every 1/4 just to keep our head above water let alone get cashed up
anyway at least we have a 2nd gold play on the table now and lots of other km2 in our tenements with research done and being done on them... [ we have a massive tenement space lets be honest which is a great thing ]
i suppose we will just have to keep selling off good projects [ and hopefully keep a minority share] to stay afloat and make $
which in a sense isnt the worst business plan idea [with so much tenement space] till we are cashed up to do them all on our lonesome
i still think this stock has great potential - we just need to tighten up on a few things...
any recommendations for the CFO situation dr?
IXR Price at posting:
1.1¢ Sentiment: Buy Disclosure: Held
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