Batboy, its not about the gold not being there
They have been saying the gold is there for countless years etc..
Batboy - Cash is the life blood of any small spec miner
500 oz per quarter = $800k in sales approx. before operating costs AISC
1000 oz per quarter = $ 1.6m in sales approx. before operating costs AISC
1500 oz per quarter = $2.4m in sales approx. before operating costs AISC
They have drawn on CN $2m cash well before end of September 2018 qtr
Quarterly operating costs -including salaries still add up- the geologist alone is on $300k plus if I am not wrong plus mine equipment machinery etc.....
Gold Debt as per annual report last quarter $1.759m alone
Exploration costs - JV $3m etc....
DYOR
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