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Advanced Explorations Inc. ADEXF

"Advanced Explorations Inc is a development stage company. It is engaged in the acquisition, exploration and development of properties within the resource sector."


GREY:ADEXF - Post by User

Comment by Greenandgold.on Feb 16, 2012 12:04pm
157 Views
Post# 19543323

RE: Full Picture

RE: Full Picture

Ok, Behr, here's a fuller picture, from the Q3 (Sept 30th) financial statement and most recent management information circular:

*

Cash position: $3.3 million

Working capital: $3.1 million (amount receivable: $880K, accounts payable: $1.2 million)

Last quarter's expenses (excluding deferred exploration costs): $992 K

2010 salaries paid to top 5 AXI execs: $793 K

2012 Commitments: $426K for office and equipment leases, $275 K payment due to Roche Bay plc

*

AXI's currently paying for a full feasibility study. These typically cost at least $5 million. With their burn rate (salaries, rent, maintenance costs at both Roche Bay and Tuktu, feasibility study expenses) they are almost certainly currently running a working capital deficit. And there's a distinct possibility that Wardrop has halted work on the feasibility study because AXI can't make regular payments to them.

 

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