They had $9 million in the bank end of may 2023. Now they have less than $2.5 in the bank I presume based on latest quarterly.
The SP was 7.5 cents. Now its 2 cents
They squandered $6.5 million to put out a result that was already known.
Held this stock since Jan 2021 and since then I have lost 70% of the value on a six figure holding.
Not to mention all the people who participated in the 6 cents raise have been shafted too with the free attaching options at 8 cents which is a 400% gain from here. They are all down 66% too!
~$500K in corporate costs and salaries per quarter. $770K for the 6 months. $1873K exploration costs for six months for a lousy annoucement.
Everyone knows they need more money and soon..
What an erosion of $$$. My sentiment remains changed.
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