Been waiting to have a look at this. Had a feeling they would try to release it after hours when everyone is asleep hoping people would miss it.
Let’s compare last quarter to this quarter !
Last quarter ending June 30 :
They claim here to have $550,000 available that gives them 0.74 quarters of funding. Then claim that the grant received topped them up to $850,000 of available funding. Ok no problem.
Now: This quarter ending September 30
They claim here they have only $432,000 left in available funds but apparently this will last them over 3 quarters ?? Huh ??? & whilst in exploration and drill mode ? Hmmm
1. How do u have less money this quarter but can fund over 3 times more quarters?
2. Last quarter you claim to have $850,000 after the grants - This quarter you have $430,000. That’s a cash burn of $420k for the quarter ???? If u burn over $400K in a quarter and u have only $400K available NOW - then how can u possibly last 3.2 more quarters.
It just doesn’t add up, it never did. I would be very worried holding this now and would want some sort of funding plan in place asap to avoid going belly up.
Good luck.
KGD Price at posting:
1.2¢ Sentiment: None Disclosure: Not Held
