Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-2

So, they had a net expenditure of $144,000.00 for the quarter, broken up as follows:

Income - $27,000.00

less

Expenses - $171,000.00.

Expenses were:

staff- $52,000.00
admin and corporate costs - $123,000.00
exploration an evaluation - $48,00.00.

I wonder what they are working on, so as to reactivate exploration.

As the stipulated formula demands, at this slow burn, the company will have 4 years of funds left. Surely, this won't come to fruition. They have to find something meaningful to spend it on.

What's up Doc!