Too many cooks in the kitchen by the looks of it. They employ contractors to do all the ground work, rest is cash burn.
3-5 years from exploration to production is not going to happen in a place like Quebec when half the year is blanketed by snow. And the other half putting out fires.
I don't know why they need 13 people in executive/management positions when they don't even have a drill in the ground. They certainly have "boots on the ground"... 26 of them doing a shuffle.
LU7 - General Discussion, page-10
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