OTCQX:BGMZF - Post by User
Comment by
RedHorizonon Apr 10, 2012 9:07pm
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Post# 19778604
RE: RE: RE: Cash Position
RE: RE: RE: Cash Position Kewl2:
In addition to the Mosquito Creek acquisition the company had about $10M in debt from all of the drilling that was done in 2011.
From the January 23, 2012 news release:
"The Company has used the net proceeds: (i) to purchase Mosquito Consolidated Gold Mines Limited's 3% NSR on the Cariboo Gold Quartz Property, Island Mountain Property and Mosquito Creek Property and acquire all their residual property interests in the Cariboo Gold Quartz Property; (ii) to retire its contractual obligations with Procon Mining Partnership; and (iii) to pay certain outstanding liabilities and to provide working capital."
GLTA