Not sure exactly how much cash they have now but $3.2 million dollars can last them many quarters if they choose to postpone spending on exploration/development. The directors contributed 20c per share during the previous quarter and I don't think they will be happy to raise money at the current share price?
'During the Quarter, the Directors exercised a total of 1.9 million options with a 20 cent exercise price, contributing $380,000 to the Company'
The MD put $2 million at 16.5c per share. I would like to think that he will continue to support the company as a significant shareholder.
EM2 Price at posting:
13.5¢ Sentiment: Buy Disclosure: Held
