Ann: Quarterly Activities and Cashflow Reports, page-2

Surprisingly little commentary in the report. Hard to believe that they have not even put out a simple announcement to state that they have terminated the option to acquire the tenements from Norton.

Cash balance of $3M but a projected burn rate of over $200K / quarter (on admin and salaries). Market Cap on 200M shares of around $5.6M. EV of $2.6M. Very surprising that the share price has not been pushed down to reflect the dwindling cash balance. Might just be a liquidity issue but would expect the price to keep on sliding over time. Truly game over!