cto versus the xgd gold index ..., page-23

Based on the December quarterly I would think they are out of funds or very close to it by now, they have not received any investors / punters money in the March quarter and they only had $1.8mill at the end of the December Quarter. If funding does not come this will be a fire sale. I doubt they have bought more than one of the new smaller loaders they said was required in the September quarterly and we are paying for 2 more directors. They have been talking with other interested parties for years now with little or no result. It would appear that if they are starved of funds they are in a very weak negotiating position. Being frugal in spending and borrowing in the earlier stages of development may turn out to be the companies downfall unfortunately. IMHO

DYOR My rambling and opinions only