how is this company staying afloat.
It has been a difficult period for the mine. However, the company received around $2.1m from listed options being exercised during the current quarter.
They also have an arrangement with the mining contractor where the mining is paid for by splitting whatever gold is produced 50/50. Ie mining risk appears to be with contractor.
Also admin costs are pretty low by industry standards.
Still, I don't rule out a CR at some stage. Remember, the MD is a big shareholder and, in the past, for better or worse, they've been reticent to raise.
Havilah's Developing Projects, page-14
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